Bank Muscat reports RO72m net profit for nine months

17 October 2010

Bank Muscat profits drop from RO80.4m for the same period 2009

Bank Muscat, the Sultanate’s biggest bank in terms of market share and market value, has achieved a net profit of RO72.2m for the first nine-month period of 2010, against RO80.4m for the same period last year, Times of Oman has reported. Net profit for the first nine months in 2009 included RO53.2m post-tax gain on sale of HDFC Bank investment, RO8.5m losses on available-for-sale investment portfolio and around RO30m of credit losses towards Saudi branch exposures.

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