Oman's listed banks have maintained their profit-taking streak as the country's economy recovers, despite revenues from oil and gas trading in 2023 falling compared to the previous year. The banks' net profit jumped 18.6 percent last year to 453.5 million riyals ($1.17 billion) from $993 million a year earlier. Following the consolidation of local activities, 20 banks are active in the sector. According to data from the Union of Arab Banks, there are seven local commercial banks, two specialized government banks, and two Islamic banks. Nine branches of foreign banks operate in the country.
Source (Al-Arab Newspaper of London, Edited)
