Subsequent to the good results achieved in 2009, the Bank continues to record better results in the first quarter as the majority of the financial indicators showed remarkable growth. The net interest income increased from RO10.9m in the first quarter of 2009 to RO13.9m in the current quarter, a growth of 27.6%. Other operating income (fees and commissions, foreign exchange income, investments and other income) grew by 2.9% and reached RO3.9m for the three months ended at 31st March 2010 while profit from operations grew by 22.1%.
The Bank has made several investments to its wide spectrum of products and services to strengthen its core banking systems to provide better and efficient services to its clients.
Engineer Abdul Hafidh Salim Rajab Al Aujaili, Chairman, BankDhofar commented, 'BankDhofar managed to sustain continuous solid results despite the economic challenges of last year and is proud to have achieved the highest Net Profit rate, reflecting the Bank's prudent strategic approach and the efforts put forth by all the employees. It is definitely a matter of pride for us especially after the efforts we have put in to enhance our overall service offerings. We look forward to the next quarter with optimism."
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BankDhofar records 35% net profit increase in q1, 2010
- Oman: Thursday, May 06 - 2010 at 13:17
- PRESS RELEASE
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BankDhofar, ranked number 1, as the "Best Bank in Oman" by the 2010 Oman Economic Review-Gulf Baader Capital Markets Survey, continues implementation of its 5 year strategic plan and has announced a 35% net profit of RO8.8m in the first quarter of 2010, against last years Q1 net profit of RO6.5m.
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Posted by Rima Ali Al MashniThursday, May 06 - 2010 at 13:17 UAE local time (GMT+4)
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About BankDhofar:
With assets worth around RO1.5bn, BankDhofar (SAOG) is one of the fastest growing Banks in The Sultanate of Oman, with a strong presence in Corporate Banking and Consumer Banking, Treasury Project Finance. The Bank has a network of 54 branches and 91 ATMs. BankDhofar has a reputation of commitment, foresight and solid growth.
For more information please contact:
Ahmed Suleiman Al Lamki
Office: 24790466 ext. 874
Fax: 24783456
With assets worth around RO1.5bn, BankDhofar (SAOG) is one of the fastest growing Banks in The Sultanate of Oman, with a strong presence in Corporate Banking and Consumer Banking, Treasury Project Finance. The Bank has a network of 54 branches and 91 ATMs. BankDhofar has a reputation of commitment, foresight and solid growth.
For more information please contact:
Ahmed Suleiman Al Lamki
Office: 24790466 ext. 874
Fax: 24783456
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