Outstanding credit extended by ODCs in Oman rises by 4% to reach OMR28.4 billion

Muscat: The total outstanding credit extended by Other Depository Corporations (ODCs), consisting of conventional and Islamic banks in Oman, increased by 4.1 per cent to reach OMR28.4 billion at the end of June 2022.

Credit to the private sector demonstrated a slight rise of 2.3 per cent Year-over-Year (Y-o-Y) to reach OMR23.8 billion.

Non-financial corporations received the highest shares of the total private sector credit, at approximately 46.0 per cent at the end of June 2022, followed by the household sector at 45.4 per cent. The share of financial corporations was 5 per cent while other sectors received the remaining 3.6 per cent of the total private sector credit at the end of June 2022.

Total deposits held with ODCs registered a Y-o-Y growth of 5.4 per cent to reach OMR26.3 billion at the end of June 2022. Total private sector deposits increased by 1 per cent to OMR17.5 billion.

In terms of the sector-wise composition of private sector deposits, the biggest contribution is from household deposits at 52.1 per cent, followed by non-financial corporations at 30 per cent, financial corporations at 15.2 per cent and other sectors at 2.7 per cent.