Bank Muscat Profits up 4% in H1

July 14, 2015 7:18 AM

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Oman – Mubasher: Bank Muscat reported a 4% increase in its profits for the first half of the year ended 30 June 2015, reaching OMR 89.82 million ($233.29 million) compared to OMR 86.35 million ($224.28 million) during the same period in 2014, according to a filing to the Muscat Securities Market (MSM).

Listed in Oman and Bahrain, the bank posted a 32.1% rise in net Islamic financing reaching OMR 465 million in H1-15, up from OMR 352 million in H1-14. Income from Islamic financing increased 12% to OMR 9.21 million during the six-month period, compared to OMR 8.22 million in H1-14.

Total customer deposits and Islamic deposits during the period stood at OMR 7.42 billion, a rise of 14.2% from OMR 6.5 billion in H1-14.

Bank Muscat previously reported a profit of OMR 43.3 million in Q1-15, a rise of 8.9% from OMR 39.76 million in the same period the year before.


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