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The board of directors of Bank Muscat, Oman's largest lender by assets, has proposed a 15.5%, as dividend for the year 2023.
This translates to 116.35 million Omani riyals ($302 million) of existing share capital, the lender said in a statement on the Muscat Stock Exchange on Monday.
The bank's Capital Adequacy Ratio after the cash dividend payout will be 21.22%, which is above the regulatory minimum.
The bank reported a net profit of OMR 212.50 million for full-year 2023, up nearly 6% compared to OMR 200.75 in the year-ago period.
(Writing by Brinda Darasha; editing by Seban Scaria)
