FINANCIAL NEWS

Omani banks achieve 6.6pct increase in credit at OMR23bn

21 Aug 2017

(MENAFN) Omani banks, involving Islamic institutions, achieved a year on year 6.6 percent increase in whole credit to OMR22.9bn by June end of this year.

Moreover, credit to the private sector increased by 7.4 percent to OMR20.6bn as of the end of the month, while the total credit to the private sector, the household sector contributed 45.9 percent.

In addition, total deposits at Omani banks posted growth of 6.6 percent to OMR21.4bn, with private sector deposits increasing by 5 percent to OMR13.6bn.

Accordingly, the banking sector in the Sultanate continued to view reasonable increase in both credit and deposits, despite the overall fall in the economy.

MENAFN2108201700450000ID1095753473

MENAFN2108201700450000ID1095753473

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