Muscat, The total outstanding credit extended by other depository corporations (ODCs), consisting of conventional and Islamic Banks, in Oman grew by 2.8% to reach RO 27.9 billion by the end of March 2022.

According to the data issued by the Central Bank of Oman (CBO), the credit extended to the private sector recorded an increase by 0.7% (Y-o-Y) to reach RO 23.5 billion.

Non-financial corporation and the household sector received the highest shares of the total private sector credit, constituting 45.4% each, by the end of March 2022. The share of financial corporations stood at 5.4% and other sectors received the remaining 3.8% of the total private sector credit.

Total deposits held with ODCs registered a Y-o-Y rise of 4.7% to reach RO 25.9 billion by the end of March 2022. Total private sector deposits went up by 2.4% to RO 17.5 billion.

In terms of sector-wise composition of private sector deposits, the biggest contribution is from household deposits at 51.9%, followed by non-financial corporations at 30.2%, financial corporations at 15% and other sectors at 0.8%.

Source: Oman News Agency