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Oman's capital city Muscat. The total deposits in the banking sector in the Sultanate of Oman grew by 4.8 per cent to reach RO 24.1 billion ($62.62 billion) at the end of March 2020, reported the Omani News Agency. Image Credit: AP

Abu Dhabi: Total deposits in Oman's banking sector grew 4.8 per cent to OR24.1 billion ($62.62 billion) at the end of March. Data issued by the central bank indicate private sector deposits witnessed an increase of 9.1 per cent to OR15.9 billion ($41.31 billion).

Looking at the distribution of total deposits base from the private sector, figures show that from individuals reached 48.8 per cent, and that of non-financial and financial companies were 32- and 16.9 per cent respectively. The total credit line extended by the banking sector also made gains, by 3.7 per cent to reach OR26.4 billion ($68.59 billion).

The data issued by the central bank indicate that credit granted to the private sector was up 3.2 percent to OR23.1 billion ($60.02 billion).