Thursday 24 July 2014

Bank Muscat Q1 net profit jumps 59pc

Bank Muscat, Oman's largest lender, missed analysts' expectations despite posting on Wednesday a 59.1 percent jump in its first-quarter net profit, as it didn't repeat a one-off fraud provision that it was forced to make last year.


Gulf Navigation incurs $381m losses

Gulf Navigation Holding, a maritime and shipping company, has accumulated losses of Dh1.4 billion ($381 million), which is more than half of its share capital, said a report.   It ability to continue operations h


BMI Bank posts $32m Q4 loss

BMI Bank, the Bahraini associate of BankMuscat, the largest financial services provider in Oman, has registered a BD12.2 million ($32.3 million) loss after provisions during the fourth quarter of 2009. Announcing its preliminary financial


Most Saudi banks hike loan provisions

Several Saudi Arabian banks including the kingdom's largest, Al-Rajhi Bank, booked higher loan provisions in the second quarter amid concerns over the solvency levels of two heavily indebted Saudi conglomerates. The increases were widely e


Gulf Banks may 'raise provisions on Saudi groups'

Saudi and Gulf banks may increase provisions on troubled Saudi groups towards the end of the year but levels will not be threatening, the chief economist of Saudi state-owned National Commercial Bank (NCB) said on Monday. Banks in the Gulf

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