BankDhofar’s net profit grows to OMR48m

BankDhofar said that its consolidated net profit grew by 1.83 per cent to OMR47.62 million for 2016, from OMR46.76 million for the previous year.

The bank’s net loans and advances also rose by 9.5 per cent to OMR2,988.59 million from OMR2,729.31 million during the period under review, according to a disclosure statement posted on MSM website. 

Deposits from customerssurged ahead by 11.30 per cent to OMR2,885.19 million in 2016, from OMR2,592.37 million in the previous year.

Operating income of the bank was up by 10.52 per cent to OMR127.35 million in 2016, while operating expenses increased by 10.88 per cent to OOMR56.77 million.

BankDhofar said its total assets of the bank also rose by 9.99 per cent to OMR3,952.04 million by end-December 2016.

The financial results are un-audited and subject to the approval of the board, Central Bank of Oman and shareholders.

Source :Times Of Oman