Bank Nizwa unveils 2025 strategic roadmap for growth

Bank Nizwa unveils 2025 strategic roadmap for growth

Muscat: With the popularity of Islamic banking on the rise, Bank Nizwa has been leading the way for change with innovative Islamic financing products, focus on customer service and a collaborative approach to supporting local businesses. Adopting the necessary foresight to remain abreast in the market while aligning itself to Oman's Vision 2040, Bank Nizwa has devised its 2025 strategy for growth. While continuing its growth on this strategic roadmap, Bank Nizwa has recorded outstanding performance in its financial results for the first quarter ended March 31, 2021. In the year 2020, Sharia-compliant banking assets accounted for 14. 5 percent of the total banking assets in Oman, a number that is expected to grow. Bank Nizwa was a significant contributor to this figure. As a testament to its progress, Bank Nizwa has achieved this excellent performance across all its departments, even in the face of unprecedented challenges. It has recorded three months net profit of OMR3. 009 million, indicating an 8 per cent growth after tax for the period ended 31 March 2021, compared to OMR2. 78 million in the same period in 2020. The bank's total assets also grew by 18 per cent to reach OMR1, 252. 11 million