Bank Muscat, Oman's largest lender, posted a 15 percent increase in third-quarter net profit on Tuesday, according to Reuters calculations, meeting analysts' estimates on the back of higher net interest income.

The bank made a profit of OR46.4 million ($120.5 million) in the three-month period to September 30, up from OR40.4 million a year earlier.

Bank Muscat didn't disclose a quarterly breakdown of its earnings so Reuters calculated the figure based on the bank's previous financial statements.

Two analysts polled by Reuters had forecast Bank Muscat's third-quarter profit would be OR43.7 million- OR45.3 million.

The bank's nine-month net profit was OR136.2 million versus OR126.7 million in the year-ago period. Loan impairments during the nine-month period rose to OR42.7 million from OR40.7 million.

Loans and advances rose 8.7 per cent year-on-year to OR6.6 billion on September 30, while deposits increased 6.7 per cent over the same timeframe to OR6.8 billion. - Reuters