Business | Banking
Bank Muscat quarterly net profit up by 44.3%
Bank Muscat, Oman's largest lender, posted a 44.3 per cent increase in third-quarter net profit announced yesterday to 32.3 million riyals (Dh308.16 million), meeting analysts forecasts.
- Reuters
- Published: 00:32 October 9, 2008
Dubai: Bank Muscat, Oman's largest lender, posted a 44.3 per cent increase in third-quarter net profit announced yesterday to 32.3 million riyals (Dh308.16 million), meeting analysts forecasts.
The bank made 90.1 million riyals in the nine months ending September 30, compared to 62.6 million riyals in the same period a year earlier, the bank said in a statement on the bourse website.
Analysts' forecasts for Bank Muscat's quarterly profit ranged from 27.15 million riyals to 32.9 million riyals in a net profit survey in September.
Oman's Economy Ministry said on Tuesday that strong quarterly results should counter a sharp decline in the country's stocks.
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