UPDATE 1-Oman's Bank Muscat Q1 net profit jumps 59 pct | Reuters:
"Bank Muscat, Oman's largest lender, missed analysts' expectations despite posting on Wednesday a 59.1 percent jump in its first-quarter net profit, as it didn't repeat a one-off fraud provision that it was forced to make last year.
The bank reported a quarterly profit of 39.76 million rials ($103.3 million) in the three months to March 31 compared to 24.99 million rials in the corresponding period of 2013, a regulatory filing said.
Six analysts polled by Reuters had, on average, forecast a first-quarter profit of 41.6 million rials.
Bank Muscat's profit in the same period last year was hampered by a 15 million rial provision that it took after being caught up in one of the biggest-ever cyber fraud cases."
'via Blog this'
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