NO. 36


Financial and Banking News

Bank Results

Omani Banks Show Low Profitability as Central Bank Pushes forMergers

Omani banks had mixed fortunes in 1990, although they were well insulatedfrom the effects of the Gulf crisis. Two banks declared increased profitsagainst five with lower profits. National Bank of Oman, the Sultanate's biggest,halved its 1989 loss. Two banks, Omani European and Bank Dhofar al-Omani al-Fransi,began operations in 1990, so comparative figures are...