Muscat – Data issued by the Central Bank of Oman (CBO) showed that credit granted to the private sector grew by 6.9 percent, reaching RO 27.7 billion by the end of March.

It indicated that the non-financial corporate sector accounted for the largest share of credit granted to the private sector, at 46.5 percent, followed by the individual sector at 44 percent. The remaining share was distributed between the financial corporate sector at 5.8 percent and other sectors at 3.7 percent.
Total deposits in the banking sector grew by 6.7 percent to RO 32.3 billion by the end of March. Within this total, private sector deposits in the banking system rose by 5.9 percent to RO 21.3 billion.

The total private sector deposit base was distributed across various sectors, with the individual sector accounting for the largest share, representing 50.7 percent, followed by the non-financial corporate sector and the financial corporate sector, with shares of 30.5 percent and 16.5 percent, respectively. The remaining 2.3 percent was distributed across other sectors.