Category: Banking & Finance

On a growth trajectory

Alizz Islamic Bank maintained a strong balance sheet in 2016 In response to market conditions, Alizz Islamic Bank has carefully reviewed its credit policies to avoid sectors that were more vulnerable to volatile conditions and mobilised deposits aggressively to remain liquid at all times. This strategy has helped the bank maintain a strong balance sheet. […]

BRAVING CHALLENGES

The non-banking finance companies sector witnessed a challenging year as the tightening of liquidity in the market raised the cost of short-term funding for financial institutions and also raised the fears about steep hike in interest rates amidst the prevailing economic environment. Oommen John P reports Non-banking finance companies (NBFCs) in the Sultanate, which have […]

Best Banks in Oman Survey 2017
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Building on its strength

Andrew Long, CEO of HSBC Bank Oman talks about the bank’s financial performance and major achievements across different channels of operations in 2016 How was HSBC Bank Oman’s financial performance in 2016? We have reported a 31.0 per cent increase in net profit for the year ended December 31, 2016 to RO16.9mn compared to RO12.9mn […]

Banking & Finance
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EXPONENTIAL GROWTH

Oman ORIX Leasing Company achieved the highest profit and business volumes in its history during 2016. The company will focus on quality of credit and will aim to maintain an adequate margin thereby resulting in a healthy return on investment for the shareholders, says CEO, Shahin Mohammed Al Balushi Can you highlight Oman ORIX Leasing […]

Banking & Finance
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STRONG CREDENTIALS

National Finance closed the year with a net profit of RO6.35mn as against RO6.02mn in 2015 representing 5.4 per cent increase and the highest ever in absolute terms in company’s history, says CEO, Robert Pancras in an interview Can you highlight National Finance’s performance in 2016? National Finance is a non-banking finance company with two […]

Banking & Finance
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SUSTAINING THE MOMENTUM

Al Omaniya Financial Services is contemplating to launch a digital platform to market its product in both B2B and B2C and has plans to enter the credit card business, says CEO, Aftab Patel in an interview Can you highlight Al Omaniya’s financial performance in 2016? Al Omaniya Financial Services, Oman’s largest non-banking financial Institution started […]

Banking & Finance
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ROBUST GROWTH

Muscat Finance was able to achieve a net profit after tax of RO5.138 mn, a growth of 18 per cent over 2015. The company adopted a cautious approach to growth. Excerpts from an interview with CEO, Bikram S Rishi Can you highlight Muscat Finance’s financial performance in 2016? During the year, Muscat Finance shrunk its […]

IMPROVING OPERATIONAL EFFICIENCY

United Finance Company will continue its pursuit to optimise the market potential to grow its book size. The company will adopt a selective approach to grow its loan portfolio with emphasis on maintaining asset quality. An OER report The United Finance Company registered a modest performance during 2016 given the subdued and adverse market conditions. […]

Banking & Finance
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NBO to host first ‘Hackathon’ in Oman’s banking industry

National Bank of Oman (NBO) will be hosting the Sultanate’s first ever ‘Hackathon’ to support the country’s talented innovators and tech-savvy community. Participants from universities, organizations and international startup firms will compete to produce the next big technological idea that will shape the way banks serve customers across the country. The Hackathon will take place […]

Banking & Finance
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Long-term vision

David Eldon, Chairman, HSBC Bank Middle East Limited speaks to Mayank Singh about the bank’s performance, changes in the macro economic environment and future trends Things have been challenging economically in the GCC region. How do you rate the performance of HSBC Oman against this background? I have been around for long enough to know […]



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