Muscat: According to recent data, the total credit balance granted by conventional commercial banks in the Sultanate rose by 6.9%, indicating strong credit demand and ongoing economic activity. Within this, credit extended to the private sector grew by 5.2%, reaching RO 21.4 billion by the end of May 2025.

On the investment front, banks slightly pared down their total holdings in securities, which fell by 1.7% to approximately RO 5.5 billion. However, investment in government development bonds bucked the trend with a 2.2% increase, touching RO 2 billion. In contrast, investments in foreign securities declined sharply by 11.9%, also totaling RO 2 billion by the end of the period.

On the liabilities side, total deposits at conventional commercial banks rose by 5.7% to RO 25.2 billion. A significant contributor to this growth was a 11% rise in government deposits, now standing at RO 5.7 billion. However, deposits from public sector institutions dipped by 1.7% to RO 1.7 billion.

The private sector remained a key pillar, with deposits climbing 5.8% to RO 17.1 billion, comprising 67.9% of all deposits at these banks.