Shaikh Salim Said al Fannah al Araimi, Chairman, Board of Directors — Bank Sohar, has announced that Bank Sohar has made a net profit of RO 14.497 million for the year 2011, which is 41.8 per cent higher than the previous year’s net profit of RO 10.220 million.

As a result and subject to the Central Bank of Oman’s and bank’s shareholders’ approval the Board of Directors has recommended a cash dividend of 8 per cent for the year which corresponds to eight baisas per share. The Board of Directors has also recommended a rights issue to the tune of RO 10 million to its existing shareholders to be used as capital for the Islamic window to be created……………………………………….Full Article: Source