Bank credit in Oman up 8.6%

MUSCAT: Total credit extended by conventional commercial banks in the Sultanate of Oman rose by 8.6 per cent by the end of October 2025, reflecting steady growth in banking activity, according to official data. Credit to the private sector increased by 4.4 per cent year-on-year to reach RO 21.6 billion, underscoring continued lending support to businesses and individuals.

Banks’ investments in securities also strengthened, rising by 5.9 per cent to around RO 6.5 billion during the same period. Investment in government development bonds recorded a notable increase of 10.6 per cent, reaching RO 2.1 billion, highlighting banks’ growing exposure to domestic sovereign instruments. In contrast, investments in foreign securities declined by 3.9 per cent to RO 2.4 billion.

On the liabilities side, total deposits with conventional commercial banks edged up by 1.4 per cent to RO 25.7 billion by the end of October 2025. Government deposits rose sharply by 9.8 per cent to approximately RO 5.9 billion, while deposits from public sector institutions fell steeply by 44.7 per cent to around RO 1.5 billion.

Private sector deposits increased by 8.4 per cent to RO 17.4 billion, accounting for 67.5 per cent of total deposits, reinforcing the central role of households and businesses in Oman’s banking system. — ONA