Bank Muscat announces rise in first quarter earnings, in line with analysts’ expectations | ZAWYA MENA Edition

Bank Muscat announces rise in first quarter earnings, in line with analysts’ expectations | ZAWYA MENA Edition:

Bank Muscat, Oman’s largest lender, announced on Monday a rise in first quarter (Q1) earnings for the current year, in line with analysts’ forecasts.

The bank reported a net profit of 45.8 million Omani rials ($118,96 million) for Q1 2019, compared to 44.81 million rials in Q1 2018, translating into a 2.21 percent increase.

The bank’s net interest income from conventional banking and income from Islamic financing rose 9.63 percent year on year, to 78.76 million rials in Q1 2019, compared to 71.84 million rials in Q1 2018.