The banking sector remained resilient and total credit extended till the end of November 2016 went up by 9.6 per cent to reach 21.9 billion rials, according to monthly Central Bank of Oman (CBO) report.
Credit to the private sector increased by 11 per cent to 19.7 billion rials. Of this, household sector (mainly in the form of personal loans) stood at 46.4 per cent closely followed by the non-financial corporate sector at 45.4 per cent.
Deposits grew by 4.5 per cent to 20.3 billion rials. Here too, private sector deposits went up by 5.6 per cent to 13.1 billion rials. The share of households was 48.7 per cent, followed by non-financial corporations at 28.3 per cent.
Credit by conventional banks registered a 6.5 per cent growth.
That to the private sector went up by 8.6 per cent to reach 17.6 billion rials. Overall investments in securities stood at 2.7 billion rials.
Investment in Government Development Bonds and Government Sukuk increased by 18.9 per cent to 989 million rials.
Banks also invested 336.1 million rials in Government Treasury Bills and their investments in foreign securities stood at 714.7 million rials.
Aggregate deposits held with conventional banks went up marginally by 1 per cent to 18.2 billion rials from 18 billion rials a year ago.