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FINANCIAL NEWS
Oman’s Bank Muscat net profit soars 7.5 percent in Jan-Sep
29 Oct 2015
(MENAFN) Oman’s top Bank Muscat recorded a gross profit of USD352.5 million for the first nine months, a 7.5 percent jump compared to USD328 million registered in last year’s corresponding period.
Additionally, the financial institute is very determent to carry on with its prudent policies and align development according to market circumstances, which presents a challenging situation.
The bank’s net interest revenue from conventional banking stood at USD455.5 million for the Jan-Sept timeframe compared to USD440.8 million for the same period of 2014, a growth of 3.3 percent.
Furthermore, operating expenses for the nine month period amounted to USD326.1 million as opposed to USD304.4 million for 2014’s cited period, which reflects a surge of 7.2 percent.
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