Oman’s top banks see decline in profits

Oman’s top banks see decline in profits

Muscat: A majority of Oman's banks are feeling the impact of tightening operating conditions, a new report by KPMG finds.KPMG has released its analysis of the published results of seven Omani banks for the first half of 2020. Analysing results for H1'20 for 54 listed commercial banks from across the region, the report, titled ‘GCC listed banks results: Six months ended 30 June 2020', covers financial institutions across countries including the Kingdom of Bahrain, the State of Kuwait, the State of Qatar, the Sultanate of Oman, the Kingdom of Saudi Arabia, and the United Arab Emirates. It shares information on trends in the GCC on credit loss provisions reported by banks and a summary of significant regulatory support provided in each GCC country. Oman's banks saw a decline in credit