26 March 2016
Muscat - The shareholders of Al Omaniya Financial Service SAOG, at its Annual General Meeting last week, approved the audited financial statements of the company and also announced a dividend of 25 per cent for the financial year 2015 comprising of 17 per cent cash, 3 per cent Stock Dividend and 5 per cent compulsorily convertible unsecured bonus stock bonds. Khalid Said al Wahaibi, Chairman, presided over the AGM. 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.
Aftab Patel, Chief Executive Officer, stated: "Al Omaniya Financial Services retains its primarily pole position as Oman's largest non-banking financial institution on all parameters. The company's loan book stands at RO 255 million at the year end of 2015, the highest among the non-banking financial service companies. Total revenues of the company stood at RO 19.198 million. The pre-tax profit stands at RO 7.561 million and the net profit is RO 6.657 million. The company has provided RO 2 million as provision for doubtful debts. The Earnings per Share is RO 0.028, for regulatory limits, the net worth of the company stands at RO 66.8 million. The book value of the share is RO 0.241.
© Oman Daily Observer 2016