Outstanding Credit Extended to ODCs in Oman Touches RO 28.4 Billion

Muscat, The total outstanding credit extended by Other Depository Corporations (ODCs), consisting conventional and Islamic banks in Oman, increased by 4.1% to reach RO 28.4 billion at the end of June 2022.

Credit to the private sector demonstrated a slight rise of 2.3% (Y-o-Y) to reach RO 23.8.

Non-financial corporations received the highest shares of the total private sector credit, at approximately 46.0% at the end of June 2022, followed by the household sector at 45.4%. The share of financial corporations was 5% while other sectors received the remaining 3.6% of the total private sector credit at the end of June 2022.

Total deposits held with ODCs registered a Y-o-Y growth of 5.4% to reach RO 26.3 billion at the end of June 2022. Total private sector deposits increased by 1% to RO 17.5 billion.

In terms of sector-wise composition of private sector deposits, the biggest contribution is from household deposits at 52.1%, followed by non-financial corporations at 30%, financial corporations at 15.2% and other sectors at 2.7%.

Source: Oman News Agency