Bank Muscat posts net profit of OMR163.36 million
By: Times News Service
Muscat: Bank Muscat, the leading financial services institution in the Sultanate, announced its preliminary unaudited results for the year ended December 31, 2020.
The financial results are subject to the approval of External Auditors, Board of Directors, Central Bank of Oman and the shareholders of the bank. The bank posted a net profit of OMR163.36 million for the year compared to OMR185.55 million reported during the same period in 2019, a decrease of 12.0 per cent.
The key highlights of the results for the year are as follows:
Net Interest Income from Conventional Banking and Net Income from Islamic Financing stood at OMR322.13 million for the year ended December 31, 2020, compared to OMR316.97 million for the same period in 2019, an increase of 1.6 per cent.
Sekyere Rural Bank impressively improves profit in 2019
By Gideon Ebbah Listen to article
The Sekyere Rural Bank, headquartered at Jamasi in the Sekyere South District of Ashanti has impressively improved its profits in the 2019 financial year.
Dr. Francis Denteh, Chairman of the Board of Directors of the Bank addressing shareholders of the bank at its 31
st Annual General Meeting at Kronom, near Mamponteng in the Ashanti Region said due to prudent measures employed by the bank despite the significant challenges that confronted the Ghanaian banking industry, the bank recorded a profit before tax of GH¢1,491,962.00 in 2019 as against GH¢1,170,166.00 in 2018, the previous year.
Bank of Åland Plc: Decision on dividend distribution for 2019
On January 1, 2021 the Board of Directors of the Bank of Åland Plc (Ålandsbanken Abp) approved the distribution of a dividend totalling EUR 1 per share (a regular dividend of EUR 0.80 and a 100th anniversary dividend of EUR 0.20) for the 2019 financial year, in compliance with the authorisation that the Board received from the Bank’s Annual General Meeting on April 2, 2020.
The record date for the dividend distribution is Tuesday, January 5, 2021. The dividend will be paid on Tuesday, January 12, 2021.
Because of the prevailing COVID-19 pandemic, on March 28, 2020 the Finnish Financial Supervisory Authority (FIN-FSA) recommended that small banks abstain from approving dividend distributions before October 1, 2020. On July 29, 2020 FIN-FSA announced that it was extending its recommendation not to make binding decisions on dividend distributions before January 1, 2021. The Bank of Åland obeyed these non-binding reco
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Press release content from Globe Newswire. The AP news staff was not involved in its creation.
The Community Financial Corporation Announces Appointments to Its Board of Directors
The Community Financial CorporationDecember 23, 2020 GMT
WALDORF, Md., Dec. 23, 2020 (GLOBE NEWSWIRE) The Community Financial Corporation (NASDAQ: TCFC) (the “Company”), the holding company for Community Bank of the Chesapeake, (the “Bank”) announced that on December 17, 2020 the Board of Directors appointed Michael B. Adams, James M. Burke, Gregory C. Cockerham and James F. Di Misa to the Company’s Board of Directors, effective January 1, 2021.
Michael B. Adams is the President of JON Properties, LLC, a full service commercial real estate company in Fredericksburg, Virginia. JON Properties has won numerous awards, particularly for its work on Historic Renovation and tax credit projects in the Fredericksburg, Virginia region. Prior to starting JON Properties, Mr. Adams worked at WEB Equipme