Muscat: BankDhofar reported a net profit of OMR 30.244 million for the year-to-date 31st December 2019 (consolidated after-tax), with its Islamic window achieving remarkable growth in profitability recording a 17.36 per cent increase in net profit (before tax).

Commenting on the announcement, BankDhofar’s CEO Abdul Hakeem Al Ojaili said: “This year’s results have been impacted by some increase in net provisions from the classification of certain large exposures, resulting in the decline of net"...

Muscat: Bank Muscat, the flagship financial institution in the Sultanate, has announced its preliminary results for the year ended December 31, 2019. The financial results are subject to the approval of external auditors, the board of directors, Central Bank of Oman and shareholders of the bank.

The bank posted a net profit of OMR185.55 million for the year compared to OMR179.63 million reported during the same period in 2018, an increase of 3.3 per cent.

The key highlights of the results for the"...

MUSCAT, JAN 15 – Outstanding credit extended by conventional and Islamic banks (other depository corporations) in the Sultanate rose 3 per cent to RO 25.8 billion as of end November 2019, compared to the corresponding figure for 2018, the Central Bank of Oman (CBO) in a review of the performance of the banking sector for the first nine months of last year.
Credit to the private sector increased 2.6 per cent to RO 22.8 billion by end-November 2019, the apex bank stated. Of the total credit to the private sector,"...

Bank of America reported its fourth-quarter 2019 financial results today. The news release, supplemental filing and investor presentation can be accessed in the following ways:

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200115005410/en/

• Bank of America newsroom at https://newsroom.bankofamerica.com
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Muscat: Oman’s central bank raised OMR40 million by way of allotting treasury bills on Tuesday. The treasury bills are for a maturity period of 91 days, from Wednesday until April 8, 2020.

The average accepted price reached 99.528 for every OMR100, and the minimum accepted price arrived at 99.525 per OMR100. Whereas the average discount rate and the average yield reached 1.89269 per cent and 1.90166 per cent, respectively.

The interest rate on the Repo operations with CBO is 2.192 per cent"...

VakıfBank, Turkey's fourth-largest bank, introduced a new banking assistant, “ViBi” to its mobile banking app, which currently has 4.2 million users. The assistant, developed in partnership with Sestek, a leading AI and speech technologies company. The “mobile banking assistant” which went live in only 8 months, can answer more than 5,000 questions and perform more than 300 banking transactions. Thanks to Sestek’s conversational AI technologies, VakıfBank customers can interact with ViBi"...

Total lending by Oman’s conventional banks and Islamic banking entities grew 3.9 per cent to reach at RO25.9bn in October 2019 compared to the same period a year ago, according to the monthly bulletin released by the Central Bank of Oman (CBO).

Bank credit to the private sector increased 3.4 per cent year-on-year to RO22.8bn as of the end of October 2019, the CBO statistics showed as reported by Oman News Agency. Of total credit to the private"...

Bank Muscat was recently awarded by Citibank for its operational excellence in the field of dollar payments processing. Bank Muscat won the straight-through-processing (STP) award by Citibank for outstanding performance in dollar-denominated fund transfers.

The award recognised Bank Muscat’s exceptional quality of SWIFT messages on dollar payments and maintaining an outstanding error-free rate for remittances. The award was based on evaluation"...

The UAE’s federal export credit company Etihad Credit Insurance (ECI) has signed a memorandum of understanding (MoU) with the Export Credit Guarantee Agency of Oman (Credit Oman) to enhance the trade and economic cooperation between the UAE and Oman.

The agreement was signed during the 10th Aman Union General Assembly recently held in Muscat. The MoU was signed by Massimo Falcioni, CEO of ECI and Sheikh Khalil bin Ahmed al Harthy, recently"...

Oman-based Ahli Bank has signed an exclusive partnership agreement with UAE national carrier Etihad Airways, offering its cardholders a discount of up to 15% on Business Class and 10% on Economy Class air tickets.

The promotion ends in February 2020, said the bank in its statement.

this partnership has been signed in line with Ahli's commitment to provide exclusive"...