Oman's banking sector outlook remains positive

Muscat: The Central Bank of Oman (CBO) continued to pursue monetary and banking policies supportive of growth in the country, while the outlook of the banking sector continued to remain positive in 2018.
The total outstanding credit extended by other depository corporations stood at OMR24.8 billion as of the end of September 2018, a rise of 7.5 per cent over the level witnessed a year ago.
Credit to the private sector increased by 5.6 per cent to OMR22 billion as of the end of September 2018.
Of the total credit to the private sector, the non-financial corporate sector accounted for the highest at 46.3 per cent, followed by the household sector (mainly under personal loans) with 45.4 per cent, financial corporations with 5.3 per cent and other sectors with the remaining 3 per cent.
Total deposits increased by 3.7 per cent to OMR22.4 billion, with private sector deposits growing by 2.2 per cent to OMR14.1 billion as of the end of September 2018.
Sector-wise, the share of households was 48.6 per cent of the total private sector deposits, followed by non-financial corporations with 30.7 per cent, financial corporations with 18.2 per cent and other sectors with 2.5 per cent.