Muscat Finance Co Ltd, which is operating in three main areas such as retail financing, equipment leasing and factoring and working capital, has posted a higher gross profit of RO1.8 million in 2002 compared with RO1.6 million in 2001.
In fact, the company has come a long way in the last 15 years and, at present, offers a wide range of non-banking financial products and services that include leasing, factoring, hire purchase, home plan and working capital.
Muscat Finance Co. Ltd , Oman’s largest non-banking finance company with gross assets of over RO40 million, foresees superb growth in its operations as it has been following a strategy of maintaining quality of assets and mitigating operational risks.
The balance sheets of most finance companies are seen to be improving with consumer and corporate spending increasing modestly, averting the possibility of volatility in the quality of assets.
