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ODCs Record 4.2pc Growth to RO 32.2 Billion
ODCs Record 4.2pc Growth to RO 32.2 Billion

ODCs Record 4.2pc Growth to RO 32.2 Billion

Muscat, 11 Jan (ONA) —— Other depository corporations (ODCs) consist of conventional and Islamic banks in Oman. Total outstanding credit extended by ODCs grew by 4.2 percent to RO 32.2 billion at the end of November 2024, with credit to the private sector demonstrating an increase of5.1 percent (Y-o-Y) to reach RO 26.8 billion.

Household sector received the highest share of the total private sector credit at approximately 45.3percent at end-November 2024, followed by Non-financial corporations at 45.1 percent. The share of financial corporations was 6.1 percent while other sectors received the remaining 3.5 percent of total private sector credit as at end-November 2024.

Total deposits held with ODCs registered a Y-o-Y significant growth of 10.8 percent to reach RO 31.5 billion at the end of November 2024.

Total private sector deposits increased by 9.2 percent to RO 20.6 billion. In terms of sector-wise composition of private sector deposits, the biggest contribution is from household deposits at 49.7 percent, followed by non-financial corporations at 30.6 percent, financial corporations at 17.1 percent and other sectors at 2.6 percent.

—— Ends/AH

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