Bank loans

Bank lending to Oman exceeds OMR 28 billion in May 2022

Muscat: Total loans and funding in Oman’s commercial banks increased by 4.5% to reach OMR 28.30 billion at the end of May 2022, compared to OMR 27.08 billion during the same period in 2021. The rate average interest rate on total credit decreased by 0.1 percent. cent according to the latest data released by the National Center for Statistics and Information (NCSI).

The effective exchange rate index of the Omani rial increased by 8.3% to reach 111 points against 102.5 points at the end of the same period in 2021. 836.6 million at the end of the same period in 2021 , a decrease of 6.2%.

The total foreign assets of the Central Bank of Oman (CBO) decreased by 3.5% at the end of May 2022 to OMR 6,705.7 million from OMR 6,945.9 million at the end of May 2021.

Broad money (M2) increased by 0.5% to OMR 20,379.1 million compared to the same period in 2021, when reported M2 stood at OMR 20,279 million.

Narrow money supply (M1) decreased by 0.4% to OMR 5,783.1 million from OMR 5,803.6 million during the same period in 2021.

Private sector deposits in commercial banks and Islamic branches in the Sultanate of Oman decreased by 1% to OMR 17,155.7 million at the end of May 2022 from OMR 17,336.6 million during the same period in 2021.