Saturday 28 / September / 2024
Muscat: Data issued by the Central Bank of Oman (CBO) indicate that the total credit balance granted by the Omani banking sector increased by 3.4 percent to OMR 31.3 billion by the end of July 2024.
Additionally, credit granted to the private sector recorded a growth of 3 percent to reach OMR26.2 billion by the end of July 2024.
Data on its distribution across various sectors indicate that the household sector accounted for the largest share, amounting to 45.1 percent by the end of July 2024, followed by non-financial companies at 44.9 percent, while the remaining percentage was distributed between the financial companies sector at 6.3 percent and other sectors at 3.6 percent.
Total deposits in the banking sector grew by 12.5 percent to reach OMR31 billion by the end of July 2024. Within this total, private sector deposits in the banking system witnessed a 13.9 percent increase to reach OMR20.7 billion by the end of July 2024. When looking at the distribution of the total private sector deposit base across various sectors, the figures indicate that the household sector received the largest share, amounting to about 49.9 percent, followed by the non-financial corporate sector and the financial corporate sector with shares of 29.9 percent and 17.7 percent, respectively, while the remaining 2.5 percent was distributed among other sectors.
Assets of Islamic banks and windows
Data issued by the Central Bank of Oman (CBO) indicated that the total assets of Islamic banks and windows combined rose to about OMR7.8 billion, or 18.2 percent of the total assets of the banking sector in the Sultanate of Oman by the end of July 2024, recording an increase of 10.8 percent compared to the same period last year.
Statistics further showed that the total financing balance granted by units practicing this activity recorded an increase of 11 percent to reach about OMR6.4 billion.
Deposits in Islamic banks and windows also increased by 17 percent to reach about OMR6.2 billion by the end of July 2024.
