Muscat: Latest data issued by the Central Bank of Oman (CBO) puts the total value of loans issued by local commercial banks in the first half of the year at 17.823 billion riyals (Dh169.46 billion), an 8.9 per cent increase compared to the same period last year.
The total value of loans stood at 16.368 billion riyals in the first half of 2014.
The data also showed that private sector deposits rose 7.5 per cent to 11.745 billion riyals by the end of June, compared to 10.924 billion riyals over the same period in 2014.
The average profit dipped 5.5 per cent to 4.5 million riyals.
Foreign assets at the CBO rose by 7.4 billion riyals, an increase of 3 per cent until the end of June.
Personal loans stood at 6 million riyals over the same period, compared to 5.5 million riyals over the same period in 2014.
Economic experts attributed the increase in loan dibursement to stepped up project implementations as well as the entry of more nationals into the local jobs market.