Muscat: Despite a dip in net profit to RO 381,412, compared to RO 719,185 in the previous year, the company operated fully independently and strengthened its contribution to the national economy. According to CEO Khalil bin Ahmed Al Harthy, Credit Oman’s insured export sales represented 8.22% of the total insurable non-oil Omani exports.
He attributed the growth to expanded efforts supporting manufacturers and exporters, which led to a 9.53% increase in total insurance premiums, reaching RO 1.28 million. The company also increased credit ceilings granted to policyholders for exports and local sales to RO 257.7 million, up from RO 221.9 million in 2023.
Credit Oman diversified its investments across liquid, balanced-return instruments, with asset ownership at RO 17.4 million, and total assets crossing RO 19 million—nearly double its original capital of RO 10 million.
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Petrochemical and plastics: Insured sales reached RO 54.3 million (+20%)
Food and consumer goods: Grew by 13%
Packaging: Rose 27%
Mining: Declined 10% to RO 3.6 million
Building materials: Dropped 15% to RO 106.9 million
Clothing sector: Saw a sharp 89% drop
The number of insured buyers also increased by 5%, rising from 3,407 to 3,577.
