MUSCAT: The total outstanding credit extended by the other depository corporations (ODCs) consisting of conventional and Islamic banks in the Sultanate of Oman grew by 5.0 per cent to RO 27.8 billion at the end of October 2021, while the credit to the private sector demonstrated moderate increase of 2.4 per cent (Y-o-Y) to reach RO 23.4 billion.

According to the data issued by the Central Bank of Oman (CBO), the non-financial corporate sector receives the highest share of the total private sector credit, over 46.6 per cent, followed by household sector accounted for 45.1 per cent at end of October 2021. The share of financial corporations was 4.7 per cent and other sectors received the remaining 3.6 per cent of the total private sector credit as at end of October 2021.

Total deposits held with the ODCs registered a Y-o-Y growth of 5.3 per cent to reach RO 25.2 billion at the end of October 2021. Total private sector deposits increased by 4.3 per cent to RO 17.1 billion.

In terms of the sector-wise composition of private sector deposits, the biggest share goes to households’ deposits at 51.6 per cent, followed by non-financial corporations at 32.1 per cent, financial corporations at 13.9 per cent and the other sectors at 2.4 per cent. – ONA