HSBC Bank Oman has reported a 3.2 per cent increase in its net profit for the nine months period ended September 30, 2019.

The bank’s net profit for the January–September period of this year rose to RO25.8mn compared to RO25mn in the corresponding period of 2018, according to the initial unaudited results submitted to the Muscat Securities Market on Monday.

HSBC"...

Bank Muscat, one of the biggest lenders in Oman, reported a 5 per cent year-on-year rise in its nine-month net profit as income from both conventional and Islamic financing grew.

Net profit for the nine-month period ending September 30 rose to 141.4 million Omani rials (Dh1.35 billion), the lender said in a statement to Muscat Stock Exchange, where its shares are traded.

Net"...

Bank of America reported its third-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/20191016005398/en/

• Bank of America newsroom at https://newsroom.bankofamerica.com
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MUSCAT: Bank Muscat, the flagship financial services provider in the Sultanate and Oman Housing Bank (OHB), the Sultanate’s nodal housing finance institution, have entered into a long term financing agreement. Under the agreement, Bank Muscat has committed to provide up to RO 50 million in long-term financing to support OHB’s core business of providing mortgage loans, especially to the low and medium-income group of Omani citizens. The agreement was signed by Shaikh Waleed K al Hashar, Chief Executive Officer,"...

Bank Muscat has won the award for the Best Consumer Digital Bank in Oman 2019 at the Global Finance World’s Best Digital Bank Awards.

The winning banks were selected based on the criteria, including strength of strategy for attracting and servicing digital customers, success in getting clients to use digital offerings, growth of digital customers, breadth of product offerings, evidence of tangible benefits gained from digital initiatives,"...

MUSCAT: Bank Muscat, the flagship financial services provider in the Sultanate, and leading corporate Khimji Ramdas Group have signed an agreement to on-board Khimji Ramdas to Bank Muscat’s Corporate Internet Banking platform while also providing access to the bank’s Remote Deposit Capture (RDC) facility.

The agreement was signed by Tariq Atiq, DGM –"...

Sohar International on Monday announced that the bank has entered into a strategic alliance agreement with EFG International, one of the largest and best-capitalised Swiss private banks with an international footprint.

As part of the agreement, both institutions intend to join efforts in order to provide financial institutions, sovereign wealth funds, family offices, pension funds and high net-worth individuals with exclusive access to global investment"...

Bank Muscat has joined hands with the Information Technology Authority (ITA) to improve cybersecurity measures. The bank is taking part in a series of cybersecurity events that are being organised by the ITA later this month including the 8th Regional Cybersecurity Summit, FIRST & ITU-ARCC Regional Symposium for Africa and Arab Regions and the 7th Regional Cyber Drill.

Earlier in September, Bank Muscat took part in the cybersecurity readiness"...

Total credit extended by Oman’s conventional banks increased by 4.9 per cent during the first seven months of 2019 compared to the same period of the previous year, according to the monthly bulletin issued by the Central Bank of Oman (CBO).

The conventional bank’s credit to the private sector grew 1.8 per cent year-on-year to RO18.9bn during January–July period of this year, the CBO figures showed.

Overall"...

Muscat: A leading official at the Central Bank of Oman has revealed Oman’s efforts to encourage more investment in the country, as the Sultanate looks to develop an economy which will have a non-oil future, and be less dependant on oil and gas.

Speaking to the Oxford Business Group, Tahir Al Amri, Executive President, Central Bank of Oman (CBO), discussed Oman’s plans to boost foreign investment among other topics in a wide-ranging interview with the company.

Al Amri highlighted the measures"...