PHOTO
Close up Omani Rial currency note. Getty Images
Bank Muscat, Oman's largest lender by assets, reported a full year net profit for 2023 of 212.5 million rials ($552 million), 6% higher versus OMR200.75 million reported in the same period in 2022, on higher net interest income (NII).
Operating profit was OMR 316.43 million, 7% higher year-on-year, the lender said in a regulatory statement on the Muscat Stock Exchange on Sunday.
NII from conventional banking and net income from Islamic banking stood at OMR375 million, 9% higher on year.
Provisions for credit and other losses were OMR64.66 million compared with OMR60 million in the prior year.
(Writing by Brinda Darasha; editing by Seban Scaria)
