VOL. XLII

No. 31

2-August-1999

OMAN

Omani Banking Sector Records Slowdown In Growth In 1998

Omani bank results for 1998 unlike the previous years reflect quite starkly the low level of oil prices throughout the year. Withonly a very modest increase in profits following three years of an averagegrowth of 57% (two banks Oman International Bank and Oman Arab Bank recorded a decline in profits of 25% and 14% respectively), falling liquidityand sharply rising loans/deposit ratios continue to be...