OIB’s net profit up 15 percent in first nine months of 2003
Oman International Bank reported a 14.7 percent net profit increase for the first nine months of 2003 with figures raising to 10.8 million Omani rials ($28 million).
Net interest income decreased by 5.6 percent to OR 18.54 million and total operating income dropped by 2.8 percent down to OR 25.33 million. Net loan and advances increased by 2.6 percent between January and September to OR 405.8 million and total deposits were down by 0.86 percent to OR 467.611 million.
OIB is considered the largest bank in Oman in terms of savings deposits and share capital. Launched in 1984, OIB is the first 100-percent Omani-owned commercial bank in the Sultanate. OIB operates 82 branches in the country and four overseas branches at Mumbai and Cochi in India and Karachi and Lahore in Pakistan. — (menareport.com)
© 2003 Mena Report (www.menareport.com)