MUSCAT, Feb 2 (NNN-ONA) – Bank Muscat, a leading financial institution in Oman, reported a net profit of 185.55 million Omani riyals (481.96 million U.S. dollars) in 2019, the bank said in an official statement.
The net profits increased by 3.3 percent in 2019, from 179.63 million riyals in the previous year, said the statement.
The operating expenses of the bank amounted to 195.93 million riyals, compared to 190.34 million riyals in 2018, registering an increase of 2.9 percent, it added.
With its current capital totalling around 108.32 million riyals, the bank’s Board of Directors recommended distributing 40 percent of its profits, with 35 percent as cash dividends, and five percent as bonus shares, according to the statement.
