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BankDhofar profit surges 55% to OMR58m

January 22, 2014

Times News Service

Muscat : BankDhofar yesterday said that its net profit surged ahead by 54.74 per cent to OMR58.41 million for 2013 from OMR37.74 million , thanks to a sizable write back of OMR26.1 million . Net loans and advances moved up by 13.72 per cent OMR1.9 billion from OMR1.67 billion , while deposits from customers were up by 24.29 per cent to OMR2.03 billion . BankDhofar said its operating income was up by 6.5 per cent to OMR89.55 million from OMR84.09 million , while operating expenses moved up at a faster pace of 22.32 per cent to OMR45.32 million . The financial results are unaudited and subject to approval of the board of directors of the BankDhofar, the Central Bank of Oman (CBO) and shareholders.

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Source: Times of Oman

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