Financial and Banking News
Bank of Oman Withholds Dividend despite Higher Profits
The Dubai-based Bank of Oman, which is controlled by the Al-Ghurair family,has withheld its cash dividend for 1987 despite declaring an 18.5% increase inprofits to Dh65.2mn ($17.9mn). The bank's operating income also increased in1987, from Dhl68mn to Dhl99mn, while its shareholders' equity was boosted byDh56.5mn to reach Dh611mn. The bank will distribute a 10% bonus...