Total outstanding credit extended by ODCs in Oman tops OMR27.8 billion

Muscat: The total outstanding credit extended by other deposit corporations (ODCs) grew by 5.4 per cent to OMR27.8 billion as of the end of November 2021, according to the data of the Central Bank of Oman (CBO).

The credit granted to the private sector recorded a moderate growth of 2.3 per cent to reach OMR23.4 billion at the end of November 2021.

The non-financial corporate sector received the highest share of the total private sector credit, over 46.5 per cent, followed by the household sector accounted for 45.2 per cent. The share of financial corporations was 4.7 per cent and other sectors received the remaining 3.6 per cent of the total private sector credit as of the end of November 2021.

Total deposits held with ODCs registered a Y-o-Y growth of 5.7 per cent to reach OMR25.4 billion as of the end of November 2021. Total private sector deposits increased by 5.3 per cent to OMR17.3 billion.

In terms of the sector-wise composition of private sector deposits, the biggest share was to households' deposits at 51.2 per cent, followed by non-financial corporations at 31.7 per cent, financial corporations at 14.2 per cent and the other sectors at 2.9 per cent.