Oman’s Bank Muscat beats estimates with marginal Q2 net profit rise

July 13, 2016 11:57 am

Bank Muscat, Oman’s largest lender, beat the average forecast of analysts on Wednesday as it posted a marginal increase in second-quarter net profit, according to Reuters calculations.


The bank made a profit of OMR46.7 million ($121.2m) in the three-month period ending June 30, up from OMR46.5m a year earlier.


Bank Muscat did not disclose a quarterly breakdown of its earnings so Reuters calculated the figure based on previous financial statements.


The average forecast of four analysts polled by Reuters was for a quarterly profit of OMR43.3m.


The bank made a net profit of OMR90.5m in the six months to June 30 compared to OMR89.8m in the prior-year period, it said in a statement to the Muscat bourse.


By Reuters
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