RIYADH: Private sector credit growth has driven Oman’s total credit balance to 31.1 billion Omani rials ($80.9 billion) by the end of May 2024, marking a 3.2 percent annual increase, according to the latest data from the nation’s central bank. Credit to the private sector alone grew by 3.1 percent, reaching 26.1 billion Omani rials during the same period. The central bank’s data shows that non-financial companies held the largest share of the credit balance at 45.4 percent by the end of May 2024, followed closely by the individual sector at 45.3 percent.