Tuesday 19 June 2018

Bank Muscat posts $219m H1 profit

MUSCAT, July 17, 2017

Bank Muscat reported a net profit of RO84.31 million ($218.96 million) for the six months ended June 30, 2017, a decline of 6.8 per cent compared to RO90.47 million ($234.96 million) in the first half of 2016.
The net interest income from conventional banking stood at RO125.63 million for the six months of 2017 compared to RO124.42 million for the same period of 2016, an increase of 1 per cent.
The net income from Islamic financing was RO12.4 million for the six months, compared to RO11.76 million for the same period of 2016, an increase of 5.4 per cent.
 The non-interest income was RO68.57 million for the first six months of this year, compared to RO74.58 million for the same period in 2016 due to reduction in exchange income and other fees.
 The Impairment for credit losses for the six-month period in 2017 was RO 35.44 million as against RO 32.72 million for the same period in 2016.

Net Loans and advances increased by 4.8 per cent to RO7.177 billion as against RO6.848 billion as at June 30, 2016, the bank said.

Tags: Oman | profit | Bank Muscat |

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