Credit extended by banks reach OMR24.7bn

Muscat: The total outstanding credit extended by conventional and Islamic banks and other depository corporations stood at OMR24.7 billion as of the end of August 2018, a growth of 7.6 per cent over the level witnessed a year ago, according to the statistical bulletin released by the Central Bank of Oman (CBO).
The credit to the private sector increased by 5.4 per cent to OMR21.9 billion as of the end of August 2018. Of the total credit to the private sector, the non-financial corporate sector got 46.2 per cent, closely followed by the household sector (mainly under personal loans) at 45.4 per cent, while financial corporations and other sectors received 5.3 per cent and 3.1 per cent respectively.
Total deposits amounted to OMR22.2 billion as of the end of August 2018 and registered a decelerated growth at 2.8 per cent as compared to 4.5 per cent recorded during the same period last year.
Private sector deposits, which represented 63.5 per cent of the total deposits, grew by 2.2 per cent to OMR14.1 billion as of the end of August 2018.
Sector-wise, the contribution of households in total private sector deposits was 48.5 per cent, followed by non-financial corporations at 30.9 per cent, financial corporations at 18.1 per cent, and the other sectors at 2.5 per cent.