Bank Sohar board proposes 15 per cent dividend

Bank Sohar’s board has proposed a cash dividend of 5 per cent and a stock dividend of 10 per cent of the share capital.

The dividend proposal and financial statement of the bank are subject to the approval of the regulators and shareholders of the bank, according to a disclosure statement posted on MSM website. 

The bank has achieved a net profit of OMR19.11 million for 2016 as compared to a net profit of OMR27.75 million in the previous year.

Bank Sohar earlier said that its net loans and advances grew by 16.15 per cent to OMR1,913.29 million for 2016, against OMR1,647.31 million in the previous year. The bank’s customer deposits also moved up by 4.59 per cent to OMR1,531.69 million in 2016, from OMR1,464.48 million in the previous year.

Total assets of the bank stood 14.15 per cent higher at OMR2,520.10 million by end-December 2016, against OMR2,207.62 million for the same period of 2015.

Source :Times Of Oman