Credit granted by banks in Oman to private sector rises

Conventional commercial banks in Oman saw a notable increase in credit extended to the private sector, reaching OMR23.1 billion by the end of May 2026. This represents an 8.2% rise compared to the previous year, according to an analysis of banking activities by the Central Bank of Oman (CBO). The overall credit granted by banks in the Sultanate of Oman experienced an 11.8% increase during the same period. Alongside the growth in lending, the total investments of these banks in securities also surged by 29.8%, amounting to approximately OMR7.1 billion by May 2026. Investments in government development bonds saw a significant rise of 26.3%, reaching OMR2.4 billion, while investments in foreign securities increased by 36.1% to OMR2.6 billion. On the liabilities side, total deposits held by conventional commercial banks grew by 13.7% to OMR28.6 billion by the end of May 2026. Within these deposits, government funds increased by 9% to about OMR6.3 billion, and public sector institution deposits rose by 42.9% to approximately OMR2.4 billion. Private sector deposits accounted for the largest share, increasing by 11% to OMR19 billion, representing 66.3% of all deposits held by conventional commercial banks.