Credit extended by ODCs tops OMR27.9 billion

Muscat: The statistics issued by the Central Bank of Oman (CBO) indicate that the total outstanding credit extended by other depository corporations (ODCs) grew by 3.9 per cent to OMR27.9 billion at the end of January 2022, while credit to the private sector demonstrated a moderate increase of 1.8 per cent (Y-o-Y) to reach OMR23.5 billion.

The non-financial corporate sector receives the highest share of the total private sector credit, over 46.7 per cent, followed by the household sector accounted for 45.1, at the end of January 2022. The share of financial corporations was 4.5 per cent and other sectors received the remaining 3.7 per cent of the total private sector credit as of the end of January 2022.

Total deposits held with ODCs registered a Y-o-Y growth of 4.5 per cent to reach OMR25.6 billion at the end of January 2022. Total private sector deposits increased by 2.3 per cent to OMR17.3 billion.

In terms of the sector-wise composition of private sector deposits, the biggest share goes to household deposits at 51.7 per cent, followed by non-financial corporations at 30.5 per cent, financial corporations at 14.8 per cent and the other sectors at 3.0 per cent.