Bank Muscat reports net profit of OMR47.15 million
By: Times News Times
Muscat: Bank Muscat, the flagship financial institution in the Sultanate, announced its preliminary unaudited results for the three months ended 31 March 2021.
The bank posted a net profit of OMR47.15 million for the period compared to OMR33.25 million reported during the same period in 2020, an increase of 41.8 per cent, mainly due to lower impairment charges.
The key highlights of the results for the period are as follows:
Net Interest Income from Conventional Banking and Net Income from Islamic Financing stood at OMR 83.74 million for the three months period ended 31 March 2021 compared to OMR 81.23 million for the same period in 2020, an increase of 3.1 per cent.