BankDhofar shareholders, gathered for the bank's annual general meeting (AGM) on March 20, approved a cash dividend of 14 per cent (amounting to 14bz per share) and a bonus share issue of 11 per cent for the financial year ended December 31, 2013.
The meeting was presided over by Eng Abdul Hafidh Salim Rajab al Aujaili, chairman of the board, a press release said.
The AGM also approved the financial statements and reports for 2013. It also cleared a proposal to allocate RO120,000 for the bank's CSR initiatives in 2014.
Addressing the meeting, Aujaili thanked customers, shareholders and staff for their continued support and trust in the bank. He also praised the Central Bank of Oman and the Capital Market Authority for their guidance in raising the standards of the banking sector in Oman.
The chairman also expressed his gratitude to His Majesty Sultan Qaboos bin Said for his wise leadership and generous support to the private sector.
The bank's net loans and advances extended to customers achieved a growth of 13.7 per cent from RO1.67bn at the end of 2012 to reach RO1.90bn at the end of December 2013. Customer deposits grew 24.5 per cent to RO2.03bn.
BankDhofar posted a net profit of RO58.41mn for 2013, as against RO37.74mn in 2012, including the effect of the legal writeback of RO26.1mn (before taxes) in 2013.
The bank's Islamic window - Maisarah Islamic Banking Services - achieved total assets of nearly RO50mn, including net financing of RO27.9mn.
© Muscat Daily 2014
