Monday 17, July 2017 by Georgina Enzer

Alizz Islamic Bank shows narrowing losses in H1

Alizz Islamic Bank reported a 2.26 per cent improvement in performance in H1 with net losses after provisions and tax of OMR 2,042,856.

Losses before tax and provisions showed a larger improvement of 11.81 per cent at OMR 1,519,182. Operating expenses rose to OMR 6.78 million, up 10.62 per cent.

The bank reported a more than 100 per cent increase in total deposits to OMR 425.38 million while total assets were up 78.32 per cent at OMR 537.8 million. Alizz Islamic Bank also showed a 56 per cent increase in financing receivables to OMR 386.86 million. Net operating income was up 19.4 per cent to OMR 5.26 million.

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