Bank Muscat, Oman's largest lender, posted a 7.3 per cent increase in fourth-quarter net profit on Thursday, according to Reuters calculations.

The bank made a profit of RO39.2 million ($101.85 million) in the three-month period ending Dec. 31, up from RO36.5 million a year earlier. Reuters calculated the figure based on the bank's previous financial statements as Bank Muscat didn't disclose a quarterly breakdown of its earnings.

Two analysts polled by Reuters had forecast Bank Muscat's fourth-quarter profit would be RO39.5 million and RO41.0 million respectively.

The bank's full-year net profit was RO175.4 million, up 7.5 per cent from the previous year's RO163.2 million, the statement said.

Net loans and advances rose 4.9 per cent year on year to stand at RO6.70 billion on Dec. 31, while total customer deposits and Islamic deposits increased 11.1 per cent over the same timeframe to RO7.36 billion. – Reuters