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Omani lenders witness drop in credit growth
- Oman: Monday, November 12 - 2012 at 01:30
Oman's six listed banks have reported a 1.9% drop in third-quarter credit growth in the retail segment, including housing loans, compared with its average quarterly growth rate of 8% during the previous three quarters, Oman Daily Observer has reported. On a yearly basis, however, the gross loans and advances of the listed banks (excluding HSBC Bank Oman) grew at a rate of 17.5% during the twelve months ended September 2012 to OR11.33bn, which was at a higher rate than the deposits growth of 13.4% in the same period, the report said.
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