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Al Omaniya reports 10% growth in net profit

25 Oct 2010

(MENAFN) Aftab Patel, Chief Executive Officer of Al Omaniya Financial Services reported a 10 percent increase in net profit at $7.5 million in the first three quarters of 2010, compared to $6.9 million for the same period in 2009. Times of Oman reported.

The company?s hire purchase assets increased 15 percent, from $299 million in the same period last year, to $343 million.

Al Omaniya continued to maintain its leading position as Oman?s biggest non-banking financial institution with largest asset size, market capitalization, net worth, lowest non-performing loan and highest profit.

Patel commented that the stable oil prices and continued government spending on infrastructure projects a positive outlook for the Omani economic climate.

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