Banking sector credit in Oman grows by 6 per cent till June 2018


The several regulatory amendments issued recently by the Central Bank of Oman (CBO) enabled more space for banks to extend credit for stimulating economic activities in the Sultanate.

The combined balance sheet of conventional and Islamic banks and windows (other depository corporations) indicate that the total outstanding credit extended by other depository corporations (ODCs) increased by 6.1 per cent to OMR24.3 billion as at the end of June 2018.

Credit extended to the private sector rose by 5.1 per cent to OMR21.7 billion at the end of June 2018.

The disaggregated information in private sector credit exhibits that non-financial corporate constituted highest of 45.8 per cent, followed by household sector 45.5 per cent, financial cooperation 4.9 per cent and other sectors 3.8 per cent.

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