Credit granted by banks in Oman rises by 4.8%

Muscat: The total credit granted by conventional commercial banks in the Sultanate of Oman increased by 4.8 percent by the end of December 2024.

Regarding the credit granted to the private sector, it increased by 3.6 percent to reach OMR20.7 billion by the end of December 2024.

The total investments by conventional commercial banks in securities increased by 20.5 percent to approximately OMR6 billion by the end of last December.

Within this, the investment in government development bonds (GDBs) increased by 7.3 percent to reach OMR2 billion, while investments in foreign securities increased by 30.3 percent to reach OMR2.3 billion.
On the liabilities side, total deposits at conventional commercial banks rose by 6.2 percent to OMR25.1 billion by the end of December 2024.

Within total deposits, government deposits with commercial banks increased by 5.3 percent to approximately OMR5.3 billion, while deposits with public sector institutions increased by 11 percent to approximately OMR2.5 billion during the same period.

Private sector deposits also increased by 4.9 percent to reach OMR16.4 billion in December 2024, representing 65.3 percent of total deposits at conventional commercial banks.