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FINANCIAL NEWS
Oman’s National Finance profit up 68%
30 Jul 2011
(MENAFN) The National Finance’s chief executive, Robert Pancras, said that the company’s profit registered a significant increase in the first half of the current year by 68.4 percent compared with the same period in 2010 to USD3.8 million, reported Times of Oman.
Pancras said that these increasing profits were driven by net investment in finance leases growing by 32.1 percent to USD244.8 million, while National Finance’s overall income from financing activities rose by 22.7 percent to USD12.2 compared with the first half of 2010.
The chief executive added that during the past three months, retail growth was dominated by a hike in the vehicle financing business in the automobile sector. The company provided and delivered highly effective and favourable financing options for individuals.
Pancras said that more money has come into the economy through the creation of new jobs and increased salary packages with many individuals choosing to invest in cars which tend to be a necessity for transportation in our country.
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