Financial and Banking News
Omani Bank Profits Increase
The leading banks in the Sultanate of Oman have reported generally increasing profits in 1986, but with weak balance sheet growth. However, the biggest bank in the country, National Bank of Oman (NBO), reported stagnant profits despite the RO devaluation last year, which was largely responsible for the banks' windfall profits. NBO's profit remained steady at RO6.1mn ($25mn), while its total assets increased...