banking

OAB announces winners of the Hasaad Savings Scheme for June
August 2, 2021

MUSCAT: Oman Arab Bank (OAB) recently announced the names of the winners of its Hasaad Savings Scheme for June 2021. The draw saw 101 customers winning......

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Cashless transactions mandatory at key outlets from January 1
July 27, 2021

MUSCAT: With effect from January 1, 2022, all commercial transactions at select stores and business establishments will be cashless as part of the......

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Bank Muscat launches new initiative to support SME customers on VAT
July 26, 2021

Bank Muscat has signed an agreement with Morison Muscat Charted Accountants, a leading full service audit, tax and business advisory firm in Oman.......

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Bank Muscat posts RO95mn profit for first half of 2021
July 25, 2021

Bank Muscat, the sultanate's largest financial institution, posted a net profit of RO94.65mn for the first half of 2021 compared to RO69.56mn......

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Bank of America Reports Second-Quarter 2021 Financial Results
July 15, 2021

Bank of America reported its second-quarter 2021 financial results today. The news release, supplemental filing and investor presentation can be......

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Qatari lender gives up bid for additional stake in NBO
July 13, 2021

MUSCAT: National Bank of Oman (NBO) announced on Monday that Qatari lender Commercial Bank PSQC (CB) has withdrawn its offer to acquire an additional......

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Muscat-listed Sohar International Bank applies to set up branch in Saudi Arabia
July 13, 2021

RIYADH: Sohar International Bank, which is listed on Oman’s Muscat Stock Exchange, is applying to the Saudi Central Bank to open a branch in......

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Oman Banks Association commends banks for their efforts to fight COVID-19
July 12, 2021

Oman Banks Association (OBA) – an umbrella organisation to represent and promote the banking industry in Oman – has commended all the......

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Bank credit growth slows to 2.1 per cent in May; deposits rise
July 12, 2021

Bank credit growth in Oman decelerated to 2.1 per cent in May 2021 from a 3.0 per cent year-on-year growth recorded in April this year, according......

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Omani banks are well-capitalised despite decline in profits: IMF
July 11, 2021

Omani banks are well-capitalised despite the increase in non-performing loans and decline in profits due to the impact of the COVID-19 pandemic,......

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