Muscat: The total credit extended by banks and financial institutions in Oman reached RO 32.5 billion by the end of January 2025, marking a year-on-year growth of 6.5%. Credit to the private sector rose by 5.5%, amounting to RO 27.1 billion.

Within private sector credit, non-financial corporates continued to lead, accounting for the largest share at 46.1%, followed closely by individuals at 44.7%. Financial corporates and other sectors made up 5.4% and 3.8% of the credit distribution, respectively.

On the deposits front, total deposits in the banking sector grew by 7.6% to reach RO 32 billion. Private sector deposits alone surged by 7.2%, standing at RO 21 billion. Individuals dominated this segment, contributing 50.5% of private sector deposits, followed by the non-financial corporate sector at 30.3% and financial corporates at 16.5%. The remaining share came from other sectors.