MUSCAT: Oman’s conventional banks have posted a robust 11.6 per cent growth in net loans and advances at OMR17.41 billion for the first quarter of 2015, from OMR15.59 billion for the same period of last year.
It is more or less in line with last year’s credit growth as the total bank credit grew 11.3 per cent to OMR16.90 billion by the end of 2014 from OMR15.18 billion for the same period of 2013.
Sources said that the credit growth is continuing at the same pace as the government is not slowing down its expenditure, despite a marked fall in oil revenues.
