Monday 17, July 2017 by Georgina Enzer

Bank Dhofar H1 consolidated net profit down 13.27 per cent

Bank Dhofar has reported net profit for H1 of OMR 22.694 million, down 13.27 per cent.

The Omani bank showed a 60.03 per cent drop in net profit from its Maisarah Islamic banking arm, falling to OMR 703,000, down from OMR 1.759 million in H1 2016. Net profit from conventional banking was down 9.9 per cent to OMR 21.991 million.

Total assets were up 4.77 per cent to OMR 3,976.44 million. Net loans and advances to customers were up 9.57 per cent to OMR 3,113.213 million while customers’ deposits rose 8.45 per cent to OMR 2,977.515 million.

Bank Dhofar reported operating income down 7.57 per cent to OMR 62.199 million while operating expenses were up 6.15 per cent to OMR 29.228 million.

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