Bank Muscat posts RO44.81mn net profit

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Bank Muscat, the flagship financial institution in the Sultanate, announced its preliminary results for three months ending March 31, 2018. The bank posted a net profit of OMR44.81 million for the period, compared to OMR44.23 million reported during the same period in 2017, an increase of 1.3 per cent.

The bank’s net interest income from conventional banking and income from Islamic financing stood at OMR71.84 million for the three-month period ending March 2018, compared to OMR69.47 million for the same period in 2017, an increase of 3.4 per cent.
Non-interest income of the bank was OMR35.36 million for the three-month period ending on March 31, 2018, as compared to OMR36.99 million for the same period in 2017, a decrease of 4.4 per cent.