The event was attended by senior company officials, investors, analysts from brokerages firms and officials of the MSM and the Capital Market Authority (CMA).
In the meeting, Ominvest senior officials made presentations about the company’s journey so far and also discussed its future plans and strategies.
Ominvest officials while speaking at the event revealed that so far the group was mostly focusing on six verticals – banking, leasing, insurance, real estate, investment banking and financing.
“This can be changed going forward as we are going to focus more on other areas such as logistics, financial technology (fintech), health and education,” Abdulaziz al Balushi, group chief executive officer of Ominvest, said.
Balushi said the merger of Ominvest and Oman National Investment Corporation (ONIC) Holding, the first merger between two prominent investment holding companies in Oman, has created one of the biggest investment firms in the region and has given the group a flexibility to look for opportunities in other areas of growth.
Shahid Rasool, chief investment officer of Ominvest, said that Ominvest has been able to diversify its revenue sources with the merger of ONIC Holding.
He said, “It is evident from the fact that until 2014 earnings from our banking subsidiary Oman Arab Bank (OAB) used to account for 82 per cent of Ominvest’s total revenue. However, as the group has taken steps to diversify its businesses, now the income from OAB accounts for around 40 per cent of total revenue.”