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Banking credit of commercial banks hits over OMR21 billion by June end 2019
September 14, 2019 | 5:45 PM
by ONA
The Central Bank of Oman. File picture
 
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Muscat: The total volume of banking credit of commercial banks in the Sultanate as at the end of the first half of 2019 stood at OMR21,881.75 million compared to OMR20,940.1 million during the same period of 2018, comprising an increase of 4.5 percent.

The quarterly statistical bulletin released by the Research and Statistics Department at the Central Bank of Oman (CBO) indicated that the personal loans sector received OMR490.2 million, representing 38.8 percent of the total banking credit of commercial banks by the end of June 2019.

The construction sector received OMR2,070.98 million, comprising 9.5 per cent, the industrial sector received OMR1,776.1 million, constituting 8.1 per cent, followed by the services sector at RO1,773.6 million, comprising 8.1 per cent of the total banking credit.

The bulletin pointed out that the electricity, gas and water sector received OMR1,270.4 million, representing 5.8 per cent of the volume of credit extended to commercial banks during the first six months of 2019. The financial institutions' sector received OMR1,225.3 million, comprising 5.6 per cent. Mining and quarrying sector received OMR1,076.4 million, representing 4.9 per cent. Transport and communications received OMR1,070.7 million, representing 4.7 per cent, followed by the import sector, receiving OMR981.4 million, constituting 4.5 per cent of the total banking credit.



The volume of banking credit extended to the wholesale and retail trade sector received OMR926.3 million, representing 4.2 per cent, followed by the government sector with OMR85.4 million, accounting for 0.4 per cent, followed by agriculture and allied activities by OMR53.3 million, representing 0.2 per cent. The export sector received OMR19.4 million, representing 0.1 per cent of total banking credit.

The volume of banking credit extended by commercial banks in the Sultanate for other economic activities during the first half of 2019 stood at OMR773.8 million, representing 3.5 per cent while the volume of banking credit to non-resident lending received OMR331.96 million, constituting 1.5 per cent of the total banking credit.



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