Muscat: Credit granted to the private sector also saw steady expansion, rising 5.9% to RO 27.1 billion, reflecting continued economic activity and demand for financing.
The non-financial corporate sector claimed the largest share of private sector credit at 45.6%, followed closely by the individuals sector at 44.8%. Meanwhile, financial corporations accounted for 5.6%, with the remaining 3.9% allocated to other sectors.
The banking sector’s total deposits grew by 9.1%, reaching RO 31.7 billion by the end of 2024. Private sector deposits climbed 8.5% to RO 20.8 billion, reinforcing confidence in Oman’s financial system.
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In terms of deposit distribution:
- Individuals held the largest share at 49.9%
- Non-financial corporations accounted for 30.7%
- Financial corporations contributed 16.7%
- Other sectors held the remaining 2.6%
