Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Ominvest posts net profit of RO7.8mn  Join our daily free Newsletter

MENAFN - Muscat Daily - 07/05/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Muscat Daily) Oman International Development and Investment Co's (Ominvest) group net profit for the first quarter of 2014 came in at RO7.85mn, marginally higher compared with RO7.81mn in the same period last year. Profit attributable to the parent company shareholders was RO4.46mn, compared with RO4.61mn in the same period last year.

''The performance for the period was supported mainly by the parent company's investments in capital markets, banking subsidiary, associated companies and other significant investments, which approximate 75 per cent of parent company's

reported carrying value of total assets,'' Ominvest said in chairman's report submitted to the MSM on Wednesday.

Ominvest's banking subsidiary Oman Arab Bank (OAB) reported a profit of RO6.9mn, compared with RO6.52mn for the three-month period ended March 31, 2013, and the profit attributable to Ominvest shareholders is RO3.52mn, against RO3.32mn in the same period last year.

OAB's gross loans and advances increased by 15 per cent to RO1.16bn, while customer deposits at RO1.25bn were up by 23 per cent from last year.

Ominvest said that the parent company's capital market investments are focused on GCC and Asian markets and contributed RO682,762 to the profit.

Ominvest added that its associate companies, namely National Finance Co, National Detergent Co and National Biscuit Industries, performed well during the period. Its share of profits from associates for the period was RO410,693, compared with RO380,630 in 2013.

 


Muscat Daily




  MENA News Headlines
 Sep 21 2014 - Al-Nusra Front executes seized Lebanese soldierArab News
(MENAFN - Arab News) BEIRUT: A Lebanese soldier has been executed by the Al-Nusra Front the Syrian affiliate of Al-Qaeda the government said on Saturday.The soldier 'was killed by terrorist groups ...

 Sep 21 2014 - Saudi- Emirates lounges: 320m investments boost facilitiesArab News
(MENAFN - Arab News) Over 22 million customers have enjoyed the haven of an Emirates Lounge since the airline opened its first international lounge outside of its Dubai hub and demand is growing.In ...

 Sep 21 2014 - Saudi- KAEC begins sales of luxury villas at Golf Community 2Arab News
(MENAFN - Arab News) King Abdullah Economic City (KAEC) has announced the sales launches of 147 luxury villas in Al-Murooj Golf Community 2.The sales events will be held at the Jeddah's Park Hyatt ...

 Sep 21 2014 - Saudi- IE Business School creates Corporate MBA for ICDArab News
(MENAFN - Arab News) IE Business School has created a Corporate MBA for the Islamic Corporation for the Development of the Private Sector (ICD). The school and the ICD signed a partnership agreement ...

 Sep 21 2014 - Paper Arabia attracts Saudi participationArab News
(MENAFN - Arab News) The 7th edition of Paper Arabia 2014 described as the biggest to date kicks off Sunday in Zabeel Hall 1 of the Dubai International Convention and Exhibition Centre.Revealing ...

 Sep 21 2014 - Saudi- Islamic banking: Who is in controlArab News
(MENAFN - Arab News) The Islamic Development Bank's (IsDB) successful sukuk issue clearly demonstrates the market remains open to welcoming this kind of financial activity. Also the Islamic finance ...

 Sep 21 2014 - Saudi- Record 280 exhibitors at Cityscape GlobalArab News
(MENAFN - Arab News) Cityscape Global described as the Middle East's largest and most influential property show opens Sunday with 35000 participants expected from around the world and exhibitor ...

 Sep 21 2014 - Higher land prices accelerate rent inflation in QatarArab News
(MENAFN - Arab News) Higher land prices continue to put upward pressure on Qatar's rent inflation says a report released by the QNB Group. Citing the latest Ministry of Justice data it said land ...

 Sep 21 2014 - Saudi- Etihad Rail inks deal to protect key installationsArab News
(MENAFN - Arab News) Etihad Rail the developer and operator of the UAE's national railway has signed a major memorandum of understanding (MoU) with the UAE's Armed Forces.Both parties will work ...

 Sep 21 2014 - Saudi- Banking conference to draw top speakersArab News
(MENAFN - Arab News) The 21st annual edition of the World Islamic Banking Conference (WIBC 2014) which will be held with the support of Prince Khalifa bin Salman Al-Khalifa prime minister of Bahrain ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help