Leading Omani banks report robust growth in net profit
Leading Omani banks have announced a robust growth in net profit during the 1Q 2006 compared with corresponding period last year. The combined net profit of the four leading banks in Oman went up by 25.3% to OMR 29.01 mn versus OMR 23.15 mn net earnings posted by for the same period last year.
Market analysts predict the banking sector to perform well at the operating level, but the trend of raising interest rates may have an impact during the current year as spreads tighten.
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