Bank Nizwa reports first H1 profits
Bank Nizwa, one of Oman’s two Islamic banks, reported an H1 net profit after tax of OMR1.303 million, a 279 per cent improvement from losses a year earlier of OMR 727,000.
Total assets rose 45 per cent to OMR 613 million. Financing to customers was up 39 per cent to OMR 485.38 million and customers’ deposits were up 76 per cent to OMR 441.82 million.
Bank Nizwa reported a six per cent rise in operating expenses to OMR 8.23 million while operating income jumped 36 per cent to OMR 10.73 million.