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FINANCIAL NEWS
Oman banks’ credit grows to USD46.3b in Jan.-July
07 Sep 2015
(MENAFN) According to the Central Bank of Oman, the country’s commercial banks achieved a 9.15 percent growth in total credit of USD46.3 billion in the January “July period from USD42.42 billion on-year.
The total credit growth of all banks in absolute terms stood at USD3.88 billion in a year, which was in line with the loan growth seen last year and mainly driven by the corporate sector.
Executive president of Central Bank of Oman (CBO) earlier said that the credit growth for the whole year would be in double digits and would probably hover around 10 percent.
Total deposits of Omani banks also rose by 6.48 percent for the first seven months of 2015 at USD47.45 billion, from USD44.57 billion for the same period last year, according to the CBO.
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