Muscat, Data released by the Central Bank of Oman (CBO) indicate that the total credit extended by Other Depository Corporation (ODCs), which consist of conventional and Islamic banks in Oman, recorded a growth by 3.5% to reach RO 27.9 billion at the end of February 2022.
Credit to the private sector saw a moderate increase by 1.6% (Y-o-Y) to reach RO 23.5 billion.
The non-financial corporate sector received the highest share of the total private sector credit of 46.6%, followed by the household sector which accounted for 45.1% at the end of February 2022. The share of financial corporations reached 4.6% and other sectors received the remaining 3.7%.
Total deposits held with ODCs registered a Y-o-Y growth of 4.2% to reach RO 25.8 billion at the end of February 2022. Total private sector deposits increased by 2.2% to RO 17.4 billion.
In terms of sector-wise composition of private sector deposits, the biggest share goes to deposits of households at 50.9%, followed by non-financial corporations at 32.4%, financial corporations at 14.2% and other sectors at 2.5%.
Source: Oman News Agency
