Muscat: Within this, credit extended to the private sector grew even faster, rising by 5.1 percent to RO 26.8 billion.
The private sector credit distribution highlighted significant contributions from the individual sector, which accounted for the largest share at 45.3 percent, followed closely by non-financial companies at 45.1 percent. Meanwhile, financial companies represented 6.1 percent, with the remaining 3.5 percent spread across other sectors.
On the deposits front, the banking sector witnessed a robust 10.8 percent growth, with total deposits climbing to RO 31.5 billion. Of this, private sector deposits grew by 9.2 percent, reaching RO 20.6 billion.
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Private sector deposits were similarly dominated by individuals, who held the largest share at 49.7 percent. Non-financial corporate deposits followed at 30.6 percent, while financial corporates accounted for 17.1 percent. The remaining 2.6 percent was distributed among other sectors.
