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Oman International Bank SAOG

Oman International Bank was founded by
H. E. Dr. Omar Bin Abdul Muniem Zawawi in 1984. In the second half of 1984, H. E. Dr. Omar Zawawi, with the approval of the Central Bank of Oman negotiated an agreement with the British Bank of the Middle East to acquire 14 of their branches effective from the 13th of December, 1984. Today the Bank has a large branch network of 82 branches nationwide, and four overseas branches.

* Subject to approval by Ordinary Annual General Meeting

Balance Sheet as at 31 December 2007
2006
US$'000 2007
US$'000 2007
RO'000 2006
RO'000

Assets

102,800 128,392 Cash and balances with central banks 49,431 39,578

155,844 675,325 Treasury bills and certificates of deposit 260,000 60,000

639,758 308,340 Due from other banks 118,711 246,307

1,342,483 1,454,374 Loans and advances 559,934 516,856

107,987 102,468 Investments 39,450 41,575

23,431 80,135 Property and equipment 30,852 9,021

25,331 60,799 Other assets 23,408 9,752

2,397,634 2,809,833 Total Assets 1,081,786 923,089

Liabilities

253,628 216,282 Due to banks 83,269 97,647

1,778,743 2,108,322 Deposits from customers 811,704 684,816

40,034 64,063 Other liabilities 24,664 15,413

2,072,405 2,388,667 Total Liabilities 919,637 797,876

Equity

196,042 215,644 Share Capital 83,023 75,476

67,161 138,665 Non-distributable reserves 53,386 25,857

62,026 66,857 Retained profits 25,740 23,880

325,229 421,166 Total equity 162,149 125,213

2,397,634 2,809,833 Total Liabilities and equity 1,081,786 923,089

US$ 3.92 US$ 5.07 Net asset per share RO 1.953 RO 1.508

273,283 550,992 Letters of credit and guarantees 212,105 105,214

Income Statement for the year ended 31 December 2007
2006 US$'000	2007 US$'000		2007 RO'000	2006 RO'000
136,442	146,958	Interest income	56,579	52,530
(46,400)	(61,657)	Interest expense	(23,738)	(17,864)
90,042	85,301	Net interest income	32,841	34,666
27,252	29,702	Other operating income	11,435	10,492
117,294	115,003	Total income	44,276	45,158
(45,608)	(45,192)	Other operating expenditure	(17,399)	(17,559)
71,686	69,811	Operating profit before provisions	26,877	27,599
(8,836)	(7,218)	Provision for loan impairment	(2,779)	(3,402)
14,106	19,604	Impact of recoveries / write back	7,548	5,431
(130)	-	Proposed directors' remuneration	-	(50)
76,826	82,197	Profit before taxation	31,646	29,578
(8,787)	(9,272)	Taxation	(3,570)	(3,383)
68,039	72,925	Net Profit for the year	28,076	26,195
US$ 0.82	US$ 0.88	Basic earnings per share	RO 0.338	RO 0.316

A GLANCE AT SOME OF OUR PRODUCTS & SERVICES

CORPORATE SERVICES

HOTLINE

Hotline is OIB's electronic banking system which enables corporations to monitor their accounts via computers in their premises.

PORTFOLIO MANAGEMENT

A service to help people and companies with their investments in shares and securities in the Muscat Securities Market.

INVESTMENT BANKING

Corporate investors can avail of several facilities at OIB. These facilities range from capital advisory services, merchant banking, project finance, underwriting and custodial services.

MANDOOS

The Mandoos Savings Account is the most famous of all savings prize schemes in Oman. Savings may be withdrawn at any time, either using a withdrawal slip at any OIB branch or using an ABC Plan Card at any OIB ATM. Deposits do not only attract interest from the bank, but also make you eligible to win prizes.

RETAIL SERVICES / PRODUCTS

MASROOR

Masroor Savings Account is a savings scheme for children upto 18 years of age. Children who are less than 12 years of age need their parents / guardians authorisation to withdraw money. Those who are above 12 years can operate their accounts independently and are also eligible for a free ABC Plus Card. Masroor account holders can also participate in the Mandoos prize draw scheme with a minimum deposit of RO 50/-.

PHONE BANK

Phone Bank is OIB's telephone banking system that allows the customer to pay utility bills, transfer funds, check balance, order a new cheque book, pay credit card outstandings and other facilities by using a phone. The facility, available in English and Arabic, is provided FREE to all OIB account holders.

ABC PLUS VISA ELECTRON

A free card which allows customers access to funds anywhere in the world through VISA's 'Point of Sale' network of over 8 million retail outlets and Visa's global network of 600,000 ATMs Worldwide.

CASH BACK

The Cash Back facility is another innovative service that OIB offers. The facility allows you to withdraw cash through the ABC Plus Visa Electron Card in participating shops.

CREDIT CARDS

Buy now pay later! The OIB Visa / Mastercard Credit Cards are your passport to a world of convenience from shopping to cash withdrawals anywhere in the world. OIB credit cards can be used at 17 million retail outlets and 500,000 ATMs all over the world. As a value added service OIB offers 'Purchase Protection' and 'Global Calling Card' FREE to its Credit Card holders.

Various Credit card products offered are: 'Visa Platinum' 'Visa Gold' 'Visa Classic' 'Mastercard Gold' 'Mastercard Standard'.

BASMA

Basma is an easy, flexible and practical loan scheme for purchase of cars, furnishing, household goods, marriage or a well deserved holiday. And for a nominal premium you will be insured for the loan period. Basma really gives you something to smile about.

AL MUBDE

Do you have a business idea that requires financial assistance? Then Al Mubde is your answer. Specially created for financing small entrepreneurs who have special needs, Al Mubde is another unique scheme from OIB.

AL MOSTANEER

Al Mostaneer is OIB's education loan for young Omanis. It is an easy to get and easy to re-pay loan for undergraduate studies.

MULTI CURRENCY DEPOSITS

With OIB's Multi Currency deposits you can operate your Call, Current, High Yield Multi Currency or Fixed deposit accounts with OIB in any international currency including US or Australian Dollars, British Pounds, Euro or any of the currencies from GCC nations.

You get the best returns on your deposits and the flexibility that international currencies give.

WESTERN UNION

OIB also offers a unique service from Western Union for Money Transfers.

Western Union can facilitate sending payments with speed, reliability and convenience you can always depend on.

The transfer of money is 100% guaranteed and lets you send single or multiple money transfers worldwide.

NON-RESIDENT SERVICES

OIB has a dedicated Non-Resident Centre providing innovative services and catering to the diverse banking needs of Non-Resident Indians, Pakistanis and Filipinos.