MUSCAT: The net profits of Omani banks listed on the Muscat Stock Exchange (MSX) climbed to RO 420.7 million in the first nine months of 2025, up 7.8 per cent from RO 390 million a year earlier. The rise reflects the positive momentum of the national economy and strong demand for financing across both corporate and retail segments.
Bank Muscat led the sector with profits of RO 191.5 million, up 12.2 per cent from RO 170.7 million last year. Sohar International followed with RO 70.7 million, while National Bank of Oman reported RO 51.8 million. Bank Dhofar earned RO 36 million, Ahli Bank RO 32.4 million, Oman Arab Bank RO 23.3 million and Bank Nizwa RO 14.8 million.
By the end of September, total assets of the listed banks reached RO 44.1 billion, compared to RO 40.8 billion a year earlier. Shareholders’ equity also increased from RO 5.9 billion to RO 6.7 billion, underscoring the sector’s solid capital position.
The year 2025 has seen a wave of capital-raising and expansion initiatives. Bank Muscat issued a $750 million five-year bond under its Euro Medium Term Note (EMTN) programme, listed on the Irish Stock Exchange. Sohar International launched RO 200 million in Tier 1 perpetual bonds, while Bank Dhofar secured shareholder approval for a $1 billion EMTN programme.
National Bank of Oman received approval to issue up to $600 million in perpetual bonds over five years; and both Ahli Bank and Oman Arab Bank raised RO 50 million each through rights issues. Bank Nizwa, meanwhile, announced plans to boost its capital by RO 60 million to fund its long-term expansion in Islamic finance.
In corporate moves, Ahli United Bank of Bahrain sold its 35 per cent stake in Ahli Bank to the Royal Court Affairs and Omani investors, marking a key shift in local ownership. Sohar International is exploring a representative office in China or Hong Kong, while Bank Nizwa obtained preliminary approval to open a branch in Dubai’s International Financial Centre.
In acquisitions, Bank Dhofar completed its takeover of Bank of Baroda’s Oman operations, while Sohar International is seeking approval to acquire Bait Al Timan Company.
The strong financial results and expansionary strategies highlight the resilience and confidence of Oman’s banking sector amidst a favourable macroeconomic environment. — ONA
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