Oman’s Banking Sector Records Credit Growth Of 11.5% By May 2026

Consolidated balance sheet data for conventional and Islamic banks, or what is known as other deposit-taking companies in the banking sector in the Sultanate of Oman, showed an increase in the total credit balance granted by these companies by 11.5 percent to reach RO 37.4 billion  by the end of May 2026.

Credit granted to the private sector, recorded a growth of 8.7 percent, reaching RO 30.3 billion by the end of May 2026. The data regarding its distribution across different sectors indicates that the non-financial corporate sector acquired the largest share, amounting to 48.1 percent by the end of May 2026, followed by the individual sector at 43.4 percent. The remaining percentage was distributed between the financial corporate sector at 6 percent and other sectors at 2.5 percent.

Total deposits in the banking sector recorded a growth of 13.1 percent, reaching RO 36.5 billion by the end of May 2026. Private sector deposits with the banking system increased by 10.7 percent to reach RO 24.2 billion by the end of May 2026.

Looking at the distribution of the total private sector deposit base across different sectors, the figures indicate that the personal sector held the largest share at approximately 49.5 percent, followed by the non-financial corporate sector at 33.4 percent and the financial corporate sector at 15.1 percent, respectively. The remaining 2 percent was distributed among other sectors