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Loans extended by Oman’s commercial banks exceeded their deposit base at the end of June, with the loan-to-deposit ratio reaching 102.9 per cent, according to official data.
Private sector deposits rose 12.45pc year on year to 19.37 billion Omani rials ($50.4bn), Oman News Agency, said citing the Central Bank of Oman’s monthly statistical bulletin.
The latest figures come as Oman’s economy continues to expand. The International Monetary Fund expects real GDP growth of about 3.7pc in 2026, driven by higher oil production, while non-hydrocarbon growth is expected to remain positive.
The IMF said in June that Oman’s banking sector remained resilient, supported by comfortable capital and liquidity ratios, strong asset quality and profitability.
According to ONA, time deposits stood at 5.22bn rials at the end of June, while savings deposits reached 6.54bn rials and demand deposits totalled 7.28bn rials.
Of total private deposits, 16.60bn rials were denominated in Omani rials, while 2.67bn rials were held in foreign currencies.
The bulletin showed that the ratio of total cash and clearing balances to Omani rial deposits stood at 7pc, while the ratio to total deposits was 5.6pc.
Foreign-currency deposits accounted for 18.9pc of total deposits. Foreign assets represented 15.4pc of total loans and 12.5pc of total assets, while foreign liabilities accounted for 10.9pc of total liabilities.
Demand deposits made up 39pc of private deposits, while capital and reserves represented 21.1pc of total deposits. Provisions and retained interest stood at about 5.5pc of total credit.
Omani banks also recorded a 3.3pc increase in net interest income in the first quarter to $600 million.
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