Finance Companies on Muscat Stock Exchange Report Profit Growth

Muscat: Financial results for the first half of this year indicate a rise in net profits for finance companies listed on the Muscat Stock Exchange to OMR 13.3 million, compared to OMR 13.1 million in the same period last year, registering a growth of 1.6 percent. According to Yemen News Agency, finance companies listed on the Muscat Stock Exchange confirmed that the government's initiatives to develop non-oil sectors and increase their contribution to economic diversification, along with the rising demand for financing products from individuals, small and medium-sized enterprises (SMEs), and many private sector companies, have boosted the performance of the finance sector and driven revenues and net profits upward. National Finance Company achieved a 15.2% growth in net profit, which climbed to approximately OMR 8.1 million, compared to OMR 7 million in the same period last year. United Finance recorded the highest growth, with net profit rising from OMR 1.211 million to OMR 1.628 million, representing a 34 .4% increase. Meanwhile, Oman Finance Services Company's net profit rose from OMR 1.689 million to OMR 1.761 million, a 4.2% increase. The sector's performance was impacted by a decline in profits for Taajeer Finance and Muscat Finance, as both companies increased provisions to address rising non-performing loans. Taajeer Finance's net profit fell from approximately OMR 2.7 million to OMR 1.4 million, while Muscat Finance's profits dropped from OMR 520,000 to OMR 468,000. The market value of finance companies listed on the Muscat Stock Exchange rose in the first half of this year to 274.2 million Omani riyals, recording gains of about 56.9 million Omani riyals compared to their levels in December 2025.