The outstanding credit extended by other depository corporations (ODCs) in Muscat increased by 3.8 percent to OMR30.4 billion by the end of January 2024. Credit to the private sector alone saw a 4.5 percent year-on-year growth, reaching OMR25.7 billion. ODCs in Oman include both conventional and Islamic banks.
According to the report from the Central Bank of Oman (CBO), non-financial corporations received the largest share of total private sector credit at around 45.6 percent as of January 2024, followed closely by the household sector at 45.3 percent.
Financial corporations accounted for 5.3 percent of the total private sector credit, while the remaining 3.8 percent was distributed among other sectors by the end of January 2024.
Total deposits with ODCs experienced a significant year-on-year growth of 12.8 percent, reaching OMR29.7 billion by the end of January 2024.
The CBO report also highlighted that total private sector deposits increased by 11.6 percent to OMR19.6 billion.
In terms of the breakdown of private sector deposits by sector, household deposits made the largest contribution at 48.7 percent, followed by non-financial corporations at 33.3 percent, financial corporations at 15.1 percent, and other sectors at 2.8 percent.
