Credit granted by banks in Oman to private sector rises

Muscat: An analysis of the activities of conventional commercial banks indicated continued credit growth in the Sultanate of Oman, with the total credit granted by banks increasing by a robust 6.9 percent during May 2024 to May 2025.

The credit granted by the banks in Oman to the private sector, increased by 5.2 percent to reach OMR21.4 billion by the end of May 2025.

Total investments of conventional commercial banks in securities decreased by 1.7 percent to approximately OMR5.5 billion by the end of May 2025.

Within this group, investment in government development bonds (GDBs) increased by 2.2 percent reaching OMR2 billion by the end of May 2025compared to the same period last year.

The investments in foreign securities decreased by 11.9 percent reaching OMR2 billion by the end of May 2025.

On liabilities side, total deposits at conventional commercial banks increased by 5.7 percent to reach OMR25.2 billion by the end of May 2025.

Within this, government deposits with commercial banks rose by 11 percent to approximately OMR5.7 billion, while deposits with public sector institutions decreased by 1.7 percent to approximately OMR1.7 billion.

Private sector deposits increased by 5.8 percent to OMR17.1 billion in May 2025, representing 67.9 percent of total deposits at conventional commercial banks.