Oman News
Oman’s Bank Muscat Posts 8% Increase in Q3 Net Profit
Bank Muscat reports OMR 170.79 million profit, with steady growth in loans and deposits
Oman’s Bank Muscat Reports 7.5% Profit Growth, Boosted by Strong Lending and Deposits
Muscat, The biggest lender in Oman in terms of assets made 170.79 million riyals ($443 million) in the first nine months of 2024, a 7.5% YoY increase.
Net interest income of conventional banking and net income of Islamic financing increased by 4.6% year-on-year to OMR 294 million.
Net impairment for loan and other losses stood at OMR 45 million as against OMR 49.25 million in the previous year.
Net loans and advances, including Islamic finance receivables, rose 4% to OMR 10.27 billion from OMR 9.860 billion.
Customer deposits, including Islamic deposits, increased by 6.6% to OMR10.1 billion.
