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OIFC reports 189% surge in 9-month income

February 4, 2014 12:28 am

Oman Investment and Finance Co (OIFC) has reported a 189% surge in net profit for the nine-month period ended December 31, 2013, to OR5.05m, compared with OR1.75m for the same period of the previous year, mainly due to higher commission income and an increase in the company’s share of profits from its associates, Muscat Daily has reported. Commission income grew 14.9% to OR9.4m for the period, compared with OR8.18m in the corresponding period of the previous year. “OIFC’s investments have till date performed well and this is reflected in the improvement seen in the company’s bottom line,” said chairman of the board of directors of OIFC, Ahmed Hamed Saif al Subhi.