Oman’s credit balance in the banking sector reaches $81b

Dubai: Oman's banking sector reported a 3.3 per cent increase in total credit in August, reaching $81.6 billion (Dh299 billion).

The Central Bank of Oman noted a 2.8 per cent rise in credit for the private sector, bringing the total to $68 billion (Dh249 billion) by the end of August, as reported by Saudi news agency Arab News.

The data showed that non-financial companies held the largest share of credit at 44.9 per cent, closely followed by individuals at 45.2 per cent.

Financial institutions accounted for 6.4 per cent, while other sectors contributed the remaining 3.5 per cent.

This growth in credit reflects a strong and expanding economic landscape in Oman, marked by increased financial activity across the economy.