The best performing banks and leasing companies were felicitated in Oman Banking & Finance Awards, powered by Oman Economic Review (OER). The event was held alongside GCC New Age Banking Summit 2016 organized by UMS Conferences. His Highness Sayyid Taimur bin Asad Al Said, the Guest of Honour, presented the awards to the winners.
Bank Dhofar won the overall Best Bank Award in the large banks category. Ahli Bank was presented with the overall Best Bank Award in the mid size banks category. National Bank of Oman (NBO) was felicitated with the Best Bank in Profit Growth Award in the large banks segment. The Best Bank in Asset Quality Award in mid size segment was presented to Bank Sohar. The Best Leasing Company Award went to Oman ORIX Leasing Company.
In addition, special Lifetime Achievement Awards were also presented to two industry stalwarts for their excellence in performance and outstanding contribution to the growth of their respective industry segments and Sultanate’s economic development. The Lifetime Achievement Award from the banking segment was presented to AbdulRazak Ali Issa, Chief Executive, Bank Muscat. Aftab Patel, Chief Executive Officer, Al Omaniya Financial Services was felicitated with the Lifetime Achievement Award in the NBFCs segment.
Oman Banking & Finance Awards, by OER, is an initiative to acknowledge the achievements of the best performers in the banking and non-banking finance sectors in the Sultanate. The winners were selected based on a survey of banks and NBFCs done by OER & GBCM; the results were verified by Abu Timam Grant Thornton. The survey was based on the banks and NBFCs financial performance on 14 parameters over the last four years.
Bank Muscat, the flagship financial institution in the Sultanate, announced its preliminary results for three months ending March 31, 2018. The bank posted a net profit of OMR44.81 million for the period, compared to OMR44.23 million reported during the same period in 2017, an increase of 1.3 per cent. The bank’s net interest income from […]