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FINANCIAL NEWS
Al Omaniya net profit up 10.1%
08 Feb 2011
(MENAFN) The CEO of Al Omaniya Financial Services, Aftab Patel, said that the company’s net profit rose more than 10.1 percent amounting to USD10.68 million in 2010, compared with the previous year 2009, reported Oman Observer.
Patel said that the company’s total revenue reached a total of USD34.6 million. The net worth of the company amounted to USD 112.38 million, he added.
Patel also said that Al Omaniya offered USD3.36 million as provision for doubtful debts. The growing provisions reached a total USD13.8 million, he said.
The CEO said that the company aims at enhancing its presence as a specialized financial institution. It also plans on enhancing its performance and profitability in the year 2011.
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