Muscat – Statistics issued by the Bank revealed that during this period, a total of 1,499 loans were approved, amounting to RO 33.6 million, registering a growth of 26 percent compared to the first quarter of 2023.

Regional distribution of loan approvals in the first quarter of 2024 showcased varied figures, with Muscat Governorate recording 136 loans valued at RO 11.1 million, while Dhofar Governorate saw 182 loans worth RO 3 million.

In North Al Batinah Governorate, 215 loans worth RO 3.5 million were approved, whereas South Al Batinah Governorate witnessed 136 loans totaling RO 3.5 million. Additionally, Al Dhahirah Governorate recorded 127 loans valued at RO 1.1 million, and Al Dakhiliyah Governorate saw 58 loans amounting to RO 1.5 million.

Besides, 93 loans worth RO 2 million were approved in Al Wusta Governorate, with Musandam Governorate recording 82 loans worth RO 700,000. Al Buraimi Governorate saw 44 loans valued at RO 600,000 thousand, and North Al Sharqiyah Governorate recorded 88 loans totaling RO 1.2 million. In the South Al Sharqiyah Governorate, a notable 338 loans worth RO 5.4 million were approved.

As far as sector-wise distribution is concerned, the agriculture and livestock sector secured 245 loans valued at RO 4.1 million, while the fisheries sector obtained 600 loans worth RO 6 million. The industrial sector saw 292 loans totaling RO 12.3 million, and the mining sector secured 3 loans worth RO 200,000. Additionally, loans were distributed among sectors including education, health, tourism, professional, and public services, amounting to 359 loans worth RO 11 million.