Times of Oman: Banks’ assets in Oman grow 10%

The banking system in Oman witnessed steady growth in 2011, consistent with recovery of the real economy.

Gross domestic product (GDP) at the current prices increased by 20.7 per cent to RO13,001.4 million in the first half of 2011.

While nominal GDP emanating from petroleum sector posted a growth of 28.5 per cent, the non-petroleum sector rose by 13.8 per cent during the first half of 2011.

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