Mubasher: Bank Muscat on Thursday reported a 1.1% rise in profits for the first quarter of 2017 compared to Q1-16.
Profits amounted to OMR 44.23 million ($114.48 million) in Q1-17, compared to OMR 43.75 million ($113.24 million) in the same period in 2016, according to the bank’s statement to the Muscat Securities Market (MSM).
Operating profits fell 4.1% year-on-year to OMR 61.93 million in Q1-17, compared to OMR 64.59 million, whereas operating expenses rose 2.5% to OMR 44.52 million in Q1-17, compared to OMR 43.44 million in Q1-16.
The bank previously posted profits of OMR 176.56 million in 2016, compared to OMR 175.45 million in 2015, registering a slight growth of 0.63%.
