The Central Bank of Oman: 4.1% growth in bank lending at the end of last October

Mubasher: data released by the Central Bank of Oman today, Saturday, showed an increase in the balance of total credit granted by banks and banking sector companies in the Sultanate by 4.1%, to reach 28.9 billion RO by the end of last October.

The data showed – according to the Oman News Agency – today, Saturday, that the credit granted to the private sector recorded a growth of 3.1 percent, reaching 24.1 billion riyals at the end of October.

The data indicate that non-financial companies acquired the largest share, which stands at 45.8 per cent, followed by the single sector with 45.3 per cent, while the remaining percentage was distributed to the financial company sector for the 5.3 percent and to other sectors for 3.6 percent.

Total deposits in the banking sector grew by 1.4 per cent to 25.6 billion riyals at the end of October, and within this total private sector deposits in the banking system increased by 0.2 percent, reaching 17.1 billion riyals in October 2022 at the end of October.

The data indicate that the individual sector acquired the largest share, equal to approximately 52.2 per cent, followed by the non-financial corporate sector and the financial corporate sector with a share of 28.8 per cent and 16 percent, while the remaining 2.9 percent was distributed among other sectors.

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