FINANCIAL NEWS

Omani banks to raise capital by issuing bonus shares

12 Mar 2017

(MENAFN) Omani banks plan to increase their capital base, while four banks have submitted recommendations amid extraordinary general meetings to boost their capital by issuing bonus shares.

In addition, the gross capital of the six listed banks reached OMR1.090bn; reflecting an increase of OMR85.6mn, compared with 2015.

Moreover, Bank Muscat’s net profit increased to OMR176.8mn, from OMR172.2mn in 2015, while its net profit shows almost 52 percent of the OMR342.1mn.

Meanwhile, most commercial banks saw growth in their revenues, except for the National Bank of Oman, whose revenue dropped from OMR60.5mn to OMR54.5mn.

MENAFN1203201700450000ID1095306831

MENAFN1203201700450000ID1095306831

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