The banking sector posted solid growth in 2013 and the first half of 2014, on the back of improving asset quality, coverage and capital adequacy, a burgeoning Islamic banking segment and significant expansion in the economy. The industry comprises 16 conventional commercial banks – including seven local and nine foreign institutions – as well as two sharia-compliant...
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Articles & Analysis | The industry is increasingly integral to the economy from The Report: Oman 2015
The Omani banking sector once again posted solid growth in 2013 and the first half of 2014 as steadily growing demand for financial services continues to expand the sector. Government initiatives to boost entrepreneurship and the establishment of small and medium-sized enterprises (SMEs) has resulted in a Central Bank drive requiring local banks to increase lending to SMEs to at least 5% of...
Although the sultanate’s petroleum wealth has traditionally provided a backbone for growth, efforts are well under way to diversify away from hydrocarbons. Oman Vision 2020 has laid out plans to boost industrialisation within the sultanate and to encourage the private sector to take a more active role in the economy and in the provision of jobs, both of which are billed as key drivers for growth.
Articles & Analysis | The banking industry looks set to achieve its full potential in the coming years, outperforming other sectors of the economy from The Report: Peru 2015
With a record of consistent profitability and credit growth, the banking sector has benefitted from economic expansion in the past decade. Strong regulations are credited with having ensured that banks made it through the 2008 global financial crisis relatively unscathed. In 2014, the proposed end of the commodities supercycle, an economic slowdown and the prospect of...
