Muscat: According to recent data issued by the Central Bank of Oman (CBO), private sector credit increased by 3.4% and grew by 3.0% to reach RO 26.2 billion. Individuals dominated the credit landscape, accounting for 45.1% of the total private sector credit, followed closely by non-financial companies at 44.9%. Financial companies and other sectors made up the remaining 6.3% and 3.6%, respectively.

On the deposit side, the sector saw a sharp rise of 12.5%, pushing total deposits to RO 31.0 billion by the end of July 2024. Within this, private sector deposits surged by 13.9%, amounting to RO 20.7 billion. Individual deposits represented nearly half of this, holding a 49.9% share, while non-financial and financial companies held 29.9% and 17.7%, respectively, with the rest distributed across other sectors.