Growth of credit offtake in Oman drops to 6% in 2013

February 13, 2014 11:42 am

Figures released by Omani central indicate growth in credit offtake from the country’s commercial banks fell to 6% last year from 14.4% in 2012, mainly affected by slow credit disbursements to retail borrowers following regulatory changes, Muscat Daily has reported. Commercial banks’ total credit grew to OR15.18bn as of December 2013, compared with OR14.32bn a year earlier. Bankers in the sultanate said that credit offtake is expected to improve to around 10% in 2014.