Financial and Banking News
Bank Muscat Al-Ahli Al-Omani Produces Strong 1994 Results
Oman's largest bank has announced a 59% jump in profits in the year to 31December 1994, the bank's second full year of operation following the merger ofBank Muscat and Bank Al-Ahli Al-Omani at the beginning of 1993. Net profits wereOR5.09mn, up from OR3.21mn in 1993. The bank is proposing cash dividends ofOR3.6mn, or 71% of net profits for the year.
The increase in profits...