Oman’s financial institutes’ credit rises to USD47b

12 Nov 2015

(MENAFN) Omani commercial banks have accomplished a solid 10.04 percent progress in overall credit at USD47 billion for the nine months to Sept timeframe.

Basically, the demand for credit from the corporate segment is mostly for funding projects, which are either state-owned entities or semi-government firms.

The Oman Oil Refineries and Petroleum Industries Company (Orpic) is executing three top capital intensive projects, which will drive more demand for credit.

“The pipeline of credit is still strong, which will last for two more quarters since local banks are also joining in syndicated loan facilities for project funding,” saidan official at Central Bank.

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