Credit growth in Oman could slow down in Q2
- Oman: Monday, October 08 - 2012 at 06:00
Analysts have said growth in bank credit in Oman is expected to slow down in the second half of this year, mainly due to regulatory changes in retail lending, Times of Oman has reported. This is against a 19.9% growth in loans and advances of listed Omani banks, barring HSBC Bank Oman, in the first half. The growth in credit in the first six months of 20102 was in line with the expansion of the economy and increasing government focus on infrastructure and developmental projects, according to Al Maha Financial Services. The six listed banks constitute more than 80% of the total commercial banks' market share in terms of credit as of the end of June, 2012. Deposits grew at 21% year-on-year to OR10.56bn as at the end of the first half of the year.
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