News Column

Oman Financial Sector Stands Fifth among GCC Markets in Profitability

August 12, 2014

Oman News Agency reports the Muscat Securities Market (MSM) came fifth in the growth of profitability of the banking sector listed on the GCC financial markets for the first half of 2014.

A report prepared by Dr. Salah Abdul Rahman al-Talib, economist and financial markets expert at the MSM, said that the growth in the profitability of the Omani banking sector listed on MSM reached 5.6 per cent during the first half of 2014 compared with the same period last year. 

The banking sector of Dubai Financial Market achieved the highest growth in profitability among the GCC markets with nearly 42 per cent while the banking sector in Abu Dhabi Securities Exchange grew by 25.5 per cent, the banking sector in the Saudi Stock Market grew by 9.3 per cent and the banking sector in the Qatari Exchange has grown by about seven per cent. The banking sector in Kuwait Stock Exchange posted a profit growth of 2.2 percent whereas profits of the banking sector in Bahrain Bourse retreated by 24.3 percent. 

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Source: CPI Financial

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