Omani Banks Report RO 420 Million in Profits: What This Means for Investors and Businesses in Oman
MUSCAT: The net profits of Omani banks listed on the Muscat Stock Exchange (MSX) surged to RO 420.7 million in the first nine months of 2025, marking a 7.8 percent increase from RO 390 million in the same period last year. This growth reflects the robust momentum of the national economy and strong demand for financing in both corporate and retail sectors.
Bank Muscat led the sector with a profit of RO 191.5 million, up 12.2 percent from RO 170.7 million the previous year. It was followed by Sohar International with RO 70.7 million, National Bank of Oman with RO 51.8 million, Bank Dhofar with RO 36 million, Ahli Bank with RO 32.4 million, Oman Arab Bank with RO 23.3 million, and Bank Nizwa with RO 14.8 million.
By the end of September, the total assets of these listed banks reached RO 44.1 billion, compared to RO 40.8 billion a year earlier. Shareholders’ equity also rose from RO 5.9 billion to RO 6.7 billion, underscoring the sector’s strong capital base.
The year 2025 has witnessed a series of capital-raising and expansion initiatives. Bank Muscat issued a $750 million five-year bond under its Euro Medium Term Note (EMTN) programme, which is listed on the Irish Stock Exchange. Sohar International launched RO 200 million in Tier 1 perpetual bonds, while Bank Dhofar obtained shareholder approval for a $1 billion EMTN programme.
National Bank of Oman gained approval to issue up to $600 million in perpetual bonds over five years. Additionally, both Ahli Bank and Oman Arab Bank raised RO 50 million each through rights issues. Bank Nizwa announced plans to increase its capital by RO 60 million to support its long-term expansion in Islamic finance.
In significant corporate developments, Ahli United Bank of Bahrain sold its 35 percent stake in Ahli Bank to the Royal Court Affairs and Omani investors, marking a major shift toward local ownership. Sohar International is exploring the establishment of a representative office in China or Hong Kong, while Bank Nizwa received preliminary approval to open a branch in Dubai’s International Financial Centre.
Regarding acquisitions, Bank Dhofar completed its takeover of Bank of Baroda’s Oman operations, and Sohar International is seeking approval to acquire Bait Al Timan Company.
These strong financial results and expansionary strategies highlight the resilience and confidence of Oman’s banking sector amid a favorable macroeconomic environment. — ONA
Special Analysis by Omanet | Navigate Oman’s Market
Oman’s banking sector is demonstrating robust growth and resilience, with a 7.8% rise in net profits driven by strong demand for financing and strategic capital-raising initiatives. For businesses, this signals enhanced access to credit and financing opportunities, while investors should monitor expanding regional ties and acquisitions as avenues for long-term growth. Smart entrepreneurs could leverage this momentum by aligning with banks’ expansion into sectors like Islamic finance and international markets to capitalize on emerging trends.
