Banking & Finance
Bank Nizwa Records 101% Net Profit Growth

Bank Nizwa announced its H1 financial results registering yet another strong performance across its operations in Oman’s banking sector.
The bank recorded 101% growth in net profit after tax to OMR 2.6 million for period ended 30 June 2018 compared to 1.3 million last year. In addition, the bank’s total assets grew by 26% to reach OMR 773 million compared to OMR 613 million last year. Operating profit before provision and tax grew by 75% to OMR 4.4 million compared to OMR 2.5 million last year, while total customer deposit portfolio reached OMR 619 million recording a growth of 40% year-on-year.
Sayyid Amjad bin Mohammed Al Busaidi, Chairman of Bank Nizwa, said, “These results are a natural continuation to the solid performance we have been achieving in our fifth year of operation as Oman’s first Shari’a-compliant bank. We will continue growing from strength-to-strength, setting new goals for ourselves, disrupting the market in the process, by offering innovative customer-centric solutions. With yet another achievement in performance, we remain steadfast in our commitment to raising awareness on the benefits of Islamic finance, while delivering a world-class Shari’a-compliant banking experience to customers, investors and shareholders.”
Since inception in 2013, Bank Nizwa has been at the forefront of introducing, developing and enhancing Islamic Banking in the Sultanate. The bank has consistently reached out to prospective markets and customers through informative roadshows and workshops, further consolidating its role as the Sultanate’s leader in Shari’a-compliant banking. The bank continues to offer transparency and consistency in terms of practices and product features and plans to expand its customer base to cater to untapped markets and industries.
-
OER Magazines2 months ago
Dossier – ToP 25 Personalities 2025
-
Dossier2 months ago
Arabic Dossier – ToP 25 Personalities 2025
-
Alamaliktistaad Magazines2 months ago
Al-iktisaad, August 25
-
OER Magazines2 months ago
OER, August 2025
-
News2 months ago
xAI Open-Sources Grok 2.5, Signaling Accelerated AI Push
-
Entertainment2 months ago
Here’s a Complete Overview of the 2025/2026 Season at the Royal Opera House Muscat
-
News2 months ago
Sultan Center Unveils Flagship Al Hail Store, Elevating Premium Retail Experience in Oman
-
News2 months ago
HONOR, in partnership with MHD-ITICS Debuts at COMEX in Muscat, Expanding Its Presence in the GCC
You must be logged in to post a comment Login