National Bank of Oman Q4 net profit slips 19.9%
The lender reported a net profit of 55.8m rials for the whole of 2016, down from 60.1m rials in 2015
Dubai: National Bank of Oman (NBO), the sultanate’s third-largest lender by assets, posted on Thursday a 19.9 per cent fall in fourth-quarter net profit, according to Reuters calculations.
The lender made a profit of 13.68 million rials ($35.5 million, Dh130 million) in the three months to December 31, Reuters calculated based on previous financial statements in lieu of a quarterly breakdown. This was down from 17.07 million rials over the same period of 2015.
EFG Hermes had forecast the bank would make a quarterly net profit of 14.35 million rials, while Gulf Baader Capital Markets had estimated 13.50 million rials.
NBO reported a net profit for full-year 2016 of 55.8 million rials, down from 60.1 million rials in 2015, a bourse filing showed.
