Industrial Bank of Oman (IBO) was established in early 1998 to provide a number of financial services centering around project finance, including the extension and syndication of medium-term loans, investment banking, and export and import financing.

The bank's main founding shareholders include Shanfari Investment Company, the Ajit Khimji Group of Companies, Muscat Overseas Company, Orient Dawn and Ali Redha Trading Company. IBO raised 40 per cent of its start-up capital in a public subscription running from 14 February-15 March 1998.

The issue, which comprised 10 million shares, was about 30 times oversubscribed. The shares were listed on 27 June and went to a quick premium. The bank officially began operations on 7 April 1998 and posted a profit of RO 1 million ($2.

6 million) for the eight months to 31 December on the back of net interest income of RO 701,009 ($1.8 million) and pre-operating income of RO 684,152 ($1.8 million). Figures for 1999 show that the bank reported a barely-changed net profit figure for the year, though net interest income was sharply higher in the period.

The balance sheet expanded solidly by 35 per cent reflecting higher activity as the bank developed its business lines. In June, Alaga Raja was appointed general manager to replace Gerard Monteiro, the founding manager of the bank.

The company was delisted from the Oman Securities Market.

Individuals	N/A
Institutions	10%
Floating	N/A
Government	N/A

	1999
Total Assets	36,463
Shareholder's Equity	25,634
NIAT	1,039
Dividends	1,750

	1999
Assets Growth	N/A
Earning Growth	0.00%
ROaA	0.00%
ROaE	0.00%
No. Of Shares	25,000,000
EPS	0.00
EPS Growth	0.00%
Payout Ratio	168.391

	Trailing
PE
PB
DVPS
Div Yield
EV
EV/Equity

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