Bank Muscat net profits grow 46 percent in 1H 2002
Oman’s Bank Muscat recorded a 46 percent increase in net profits in the first half of 2002, reaching 12.2 million Omani rials ($31.6 million). Net interest income increased by 28 percent and loan loss provisions reached OR 6.3 million.
Bank Muscat is the largest bank in the Sultanate of Oman with assets in excess of OR 1.3 billion ($3.4 billion). Main shareholders of the Bank include the governmental Diwan of Royal Court and Societe Generale who are represented on the Board of the Bank. — (menareport.com)
© 2002 Mena Report (www.menareport.com)