Muscat, The combined balance sheet of conventional and Islamic banks and windows (other depository corporations) taken together, provides a complete overview of the financial intermediation taking place in the banking system in Oman. The total outstanding credit extended by other depository corporations grew by 6.8 percent to RO 24.1 billion as at the end of May 2018 from the level witnessed a year ago.
Credit to the private sector increased by 5.7 percent to RO 21.5 billion as at the end of May 2018. Of the total credit lo the private sector, the household sector stood at 45.6 percent, the non-financial corporate sector at 46.0 percent, while financial corporations and other sectors obtained 4.8 percent and 3.5 percent, respectively.
Total deposits registered a growth of 3.6 percent to RO 22.3 billion, with private sector deposits growing by 4.1 percent to RO 14.3 billion as at the end of May 2018.
Sector-wise, the contribution of households in total private sector deposits was 49.1 percent, followed by non-financial corporations at 29.2 percent, financial corporations at 19.1 percent, and the other sectors at 2.6 percent.
Source: Oman News Agency