Al Omaniya posts net profit for 2021

PHOTO

Muscat – Al Omaniya Financial Services announced a net profit of RO2.56mn for year 2021 at its annual general meeting (AGM) held on Sunday. The meeting was presided by Sheikh Khalid Mustahil al Mashani, deputy chairman of the company.

Sheikh Mashani, said that the shareholders have given their approval for the audited financial statements of the company as well as for the 12 per cent dividend comprising 7 per cent cash dividend and 5 per cent unsecured non-convertible redeemable bonus stock bonds.

The board of directors appreciated the measures taken by the Central Bank of Oman and the Capital Market Authority with a view to strengthening the financial sector in the sultanate, according to a press release.

Aftab Patel, chief executive officer added that the company’s loan book stood at RO117mn at the end of year 2021.

“The total revenues of the company stood at RO15.67mn for the same period. The pre-tax profit stands at RO3mn and the net profit is RO2.56mn. The Earnings per share is RO0.009, and net worth of the company stands at RO70.6mn. The book value of the share is RO.0.223,” he announced during the AGM.

Patel stated that the company has been at the forefront of, issuing innovative financial instruments and has pioneered the issue of bonus stock convertible bonds as dividends over several years.

“This year, the company’s dividend comprises unsecured non- convertible redeemable bonus stock bonds which is the first time for any financial institution in Oman,” he emphasised.