NBO announces financials and new appointments at annual general meeting

NBO, the first local commercial bank in the Sultanate of Oman, was founded in 1973 and is today one of the leading banks in Oman

  
NBO announces financials and new appointments at annual general meeting

Muscat:– National Bank of Oman (NBO) held its Annual General Meeting this week. Conducted remotely, the meeting was attended by board members, senior management and shareholders, and included the declaration of OMR 422,000 to be allocated for community support services over the coming year, in addition to last year’s financial results. In 2020, NBO achieved a net profit of OMR 18.1 million, a satisfactory yield given the lower income and higher loan impairment charge, mainly arising out of the COVID-19 pandemic. During the meeting, the bank also introduced three new board members, namely Dr. Ghazi Nasser Al Alawi, Said Hilal Al Habsi, who were appointed in May 2020, and more recently, Nabil Al Mahrouqi.

Member of the Board Audit Committee (BAC) and Board Risk and Compliance Committee (BRCC), Dr. Ghazi Al Alawi, has five years’ experience in the financial sector, having served on a number of boards including one of the Sultanate’s major financial institutions, as well as for Oman Casting Aluminum, Dunes Oman, Muscat Horizons International and ABI Showtech Oman. He holds a PhD in Entrepreneurship from the University of Plymouth, UK.

Member of the Board Audit Committee (BAC), Said Al Habsi, has extensive experience in finance and investments. An Investment Director at Oman Investment Authority (OIA), he has previously held senior positions at Oman Investment Fund (OIF), and the Ministry of Defense Pension Fund. He is also a Board member Salalah Mills SAOG, and Ubhar Capital SAOC. He holds a Masters of Business Administration, a Bachelors in Finance, and is a certified professional accountant.

Member of the Board Risk and Compliance Committee (BRCC), Nabil Al Mahrouqi is an experienced investment professional with a demonstrated history of working in the investment management industry. A qualified Financial Modeling and Valuation Analyst (FMVA) ®, he works as the Acting Head of Local Asset Management at the Public Authority of Social Insurance (PASI) and holds a B.Sc. in Finance from Sultan Qaboos University.

Rounding off a busy year, NBO has embraced the challenges emerging from the pandemic, enhancing its digital channels and launching a number of cutting-edge products and services that support its journey towards becoming a fully digitally-enabled bank. Driven by a desire to offer the very best to its customers, by remaining agile, resilient, and focusing on innovation, it has quickly adapted to a rapidly altered landscape, while continuing to pioneer service excellence.

-Ends-

About National Bank of Oman:

NBO, the first local commercial bank in the Sultanate of Oman, was founded in 1973 and is today one of the leading banks in Oman. The Bank serves its customers in Oman through 60 Branches, more than 180 ATM/FFM/CCDMs as well as two Branches in U.A.E.

The Bank is committed to community improvement through its corporate citizenship programs and is an active supporter of a range of worthy causes in Oman, with emphasis on health and human services, civic, education, environment, youth, women, arts and culture.  

For more information, please contact:
Sudipta Dasgupta
TRACCS
Telephone: +968 24 649-099
Email: Sudipta.dasgupta@traccs.net 

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