Oman's Bank Dhofar, the second-largest lender in the sultanate by assets, posted a 15.1 per cent rise in first-quarter net profit on Sunday.

The lender made a profit of RO13.56 million ($35.26 million) in the three months to March 31, versus RO11.78 million in the same period of last year, the company said in a bourse statement.

Two analysts polled by Reuters had forecast the bank would make a quarterly net profit of RO13.8 million and RO12.2 million.

Bank Dhofar said net loans and advances rose 17.4 per cent year-on-year to RO2.81 billion as of March 31. Deposits over the same period increased 6.2 per cent to RO2.81 billion. – Reuters