Bank Credit Volume Exceeds RO20 Billion till June 2018

Muscat, The total bank credit of the commercial banks in the Sultanate by the end of June 2018 stood at RO20,940.1 million compared to RO20,108.6 million during the same period of 2017, comprising an increase of 4.1 per cent.

The Statistical Quarterly Bulletin issued by the Research and Statistics Department of the Central Bank of Oman (CBO) said that the personal loans sector obtained RO8,292.7 million, 39.6 per cent of the total bank credit to commercial banks.

The construction sector obtained RO1,986.4 million, with 9.5 per cent. The service sector obtained RO1,986.1 million, with 9.5 per cent, followed by the industrial sector at RO1,519.1 million, with 7.3 per cent.

The bulletin pointed out that the import sector got RO1,126.4 million, with 5.4 per cent. The mining sector (mining and quarrying) got RO1,079.6 million, with 5.2 percent.

The financial institutions sector got RO1,065.5 million, with 5.1 per cent.

Electricity, gas and water got RO1,024.4 million, comprising 4.9 percent of the total credit volume, followed by the transport and communication sector which got RO904, with 4.3%.

Wholesale and retail trade sector got RO869.3 million, with 4.2 per cent, followed by agriculture and related activities sector, which got RO55.6 million, with 0.3 per cent.

The government sector got RO38.5 million, with 0.2 percent of the total loans that are granted to the economic sectors, followed by the export sector got RO19.3 million, with 0.1 per cent.

The bulletin pointed out that the size of the bank credit to commercial banks in the Sultanate of other economic activities amounted by the end of June 2018 to about RO712.6 million, by 3.4 per cent, while bank credit size for non-residents amounted to RO260.4 million, by 1.2 per cent of the total volume of bank credit.

Source: Oman News Agency