Credit to private sector rises by 2.5%

Muscat: The activities of other depository corporations (conventional and Islamic banks) provide a complete picture of the financial intermediation through the banking sector in Oman.
The total outstanding credit extended by other depository corporations (ODCs) grew by 2.5 per cent OMR25.9 billion at the end of February 2020.
Credit to the private sector rose by 2.5 per cent to OMR22.9 billion.
Of the total credit to the private sector, the non-financial corporate sector and the household sector (mainly under personal loans) received shares of 45.5 per cent and 45.1 per cent, respectively, while the financial corporations received 5.4 per cent and other sectors the remaining 4.0 per cent.
Total deposits held with ODCs registered a growth of 4.0 per cent and stood at OMR23.6 billion at the end of February 2020.
Private sector deposits increased by 7.2 per cent to OMR15.4 billion. Sector-wise, the share of households in the total private sector deposit was largest at 50.0 per cent, followed by non-financial corporations at 30.9 per cent, financial corporations at 16.8 per cent and the other sectors at 2.3 per cent.