Credit ex­tended by banks reach OMR24.7 bil­lion

Times of Oman - - MARKET -

MUS­CAT: The to­tal out­stand­ing credit ex­tended by con­ven­tional and Is­lamic banks and other de­pos­i­tory cor­po­ra­tions stood at OMR24.7 bil­lion as of the end of Au­gust 2018, a growth of 7.6 per cent over the level wit­nessed a year ago, ac­cord­ing to the sta­tis­ti­cal bul­letin re­leased by the Cen­tral Bank of Oman (CBO).

The credit to the pri­vate sec­tor in­creased by 5.4 per cent to OMR21.9 bil­lion as of the end of Au­gust 2018. Of the to­tal credit to the pri­vate sec­tor, the non-fi­nan­cial cor­po­rate sec­tor got 46.2 per cent, closely fol­lowed by the house­hold sec­tor (mainly un­der per­sonal loans) at 45.4 per cent, while fi­nan­cial cor­po­ra­tions and other sec­tors re­ceived 5.3 per cent and 3.1 per cent re­spec­tively.

To­tal de­posits amounted to OMR22.2 bil­lion as of the end of Au­gust 2018 and reg­is­tered a de­cel­er­ated growth at 2.8 per cent as com­pared to 4.5 per cent recorded dur­ing the same pe­riod last year.

Pri­vate sec­tor de­posits, which rep­re­sented 63.5 per cent of the to­tal de­posits, grew by 2.2 per cent to OMR14.1 bil­lion as of the end of Au­gust 2018.

Sec­tor-wise, the con­tri­bu­tion of house­holds in to­tal pri­vate sec­tor de­posits was 48.5 per cent.

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