National Finance Posts 19.81% Increase in Profit for Q3 2024

National Finance, a leader in Oman’s financial sector, has reported a 19.81% increase in operating profit for Q3 2024, reaching RO 13.48 million (approximately $34.9 million USD), up from RO 11.25 million (around $29.1 million USD) in the same period last year.

Strong Growth in Lease Asset Investments

National Finance also saw a 16.24% increase in its investment in lease assets, totaling RO 565.92 million (about $146.4 million USD) by the end of September 2024.

Increase in Post-Tax Profit

The company’s post-tax profit rose by 9.34%, reaching RO 8.75 million (approximately $22.6 million USD), reflecting its strong risk management and focus on profitable market segments.

CEO’s Message

Tariq bin Sulaiman al Farsi, CEO of National Finance, expressed pride in the company’s achievements, saying, “Despite the challenges in the market, National Finance continues to demonstrate significant resilience. Our nationwide presence and diverse product offerings place us in a unique position to provide outstanding financing experiences.”

He added, “We remain committed to optimizing operations while continuing to invest in innovation and service improvements, providing substantial value to our customers. Our strong financial position supports our growth strategy and long-term objectives.”

Focus on Omanization and Employee Development

National Finance boasts an impressive 91.40% Omanization rate, with 340 Omanis out of a total workforce of 372. Through targeted training and development programs, the company fosters local talent and builds future leaders. This commitment to employee growth was recently recognized when the company was awarded the title of ‘Best Employer’ at the Employer Branding Awards 2024.