Oman’s commercial banks see strong growth in credit, deposits, and investments

Muscat: The total credit balance granted by these banks grew by 2.7 percent, reaching RO 20.7 billion. Private sector credit also saw a modest rise of 1.8 percent, reflecting steady confidence in the sector.

On the investment front, traditional banks reported a 29.7 percent surge in securities investments, amounting to RO 6.1 billion. Investments in foreign securities stood out with a staggering 75.1 percent increase, hitting RO 2.5 billion. Meanwhile, investments in government development bonds dipped slightly by 0.7 percent to RO 1.9 billion.
On the liabilities side, total deposits surged by 10.4 percent to reach RO 25.4 billion. Government deposits increased by 1.8 per cent to RO 5.3 billion, while deposits from public sector institutions soared by 50.1 per cent, totalling RO 2.8 billion. Private sector deposits also grew by 5.3 percent to RO 16 billion, making up 63.2 percent of total deposits.