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FINANCIAL NEWS
Bank Muscat posts OMR177mn increase in profits
16 Jan 2017
(MENAFN) Bank Muscat recorded a net profit of OMR176.56mn for last year compared to OMR175.4mn reported in 2015, an increase of 0.6 percent.
Moreover, net interest income of the bank from conventional banking and income from Islamic financing reached OMR274.15mn for 2016.
However, the bank’s non-interest income at OMR142.03mn was lower by 3.5 percent compared to OMR147.23mn for the year ended Dec 31, 2015.
In addition, net loans and advances from conventional operation increased by 6.1 percent to OMR7.102mn against OMR6.695mn in Dec, 2015.
M
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