Monday 25 May 2020

Credit offered by Oman banks grow 2.5pc in Feb

MUSCAT, April 8, 2020

The total outstanding credit extended by Oman's other depository corporations (ODCs)  – comprising conventional and Islamic banks — grew by 2.5 per cent RO25.9 billion ($67.25 billion) at the end of February2020, the Central Bank of Oman (CBO) has announced.
Credit to the private sector rose by 2.5 per cent to RO22.9 billion, it was quoted a s saying by a stated. Of the total credit to the private sector, the non-financial corporate sector and the household sector (mainly under personal loans) received shares of 45.5 per cent and 45.1 per cent, respectively, while the financial corporations received 5.4 per cent and other sectors the remaining 4.0 per cent, said the report.
Total deposits held with ODCs registered a growth of 4.0 per cent and stood at RO23.6 billion at the end of February2020. Private sector deposits increased by 7.2 per cent to RO 15.4 billion.


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