Oman’s financial services company Bank Muscat has reported a 16% increase in profits for the full year 2021. The $493m increase can give its thanks to higher operating income and lower impairment charges — let’s hope it stays that way.

The West, however, seems to still be reeling from 2020’s damage. The S&P 500’s banks — think BIG like JPMorgan (JPM), Wells Fargo (WFC), and Citigroup (C) — profits are expected to decline roughly 2.4% to $31.2b, compared to last year. The decline of credit card usage, interest rates, and Omicron’s impact (still ongoing) are some likely drivers.