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Oman’s NBO posts 20% increase in Q1 net income

April 22, 2014 9:22 am

National Bank of Oman (NBO) has posted a 20% increase in its net profits for the first quarter ended March 31 to OR10.3m, compared with OR8.6m in the same quarter last year, Muscat Daily has reported. Loan book growth during the quarter was 6%, as net loans, advances and financing activities for customers increased to OR2.09bn as of the end of the first quarter of 2014, compared with OR1.97bn at the end of the same period a year earlier, NBO said. Customer deposits and unrestricted investment accounts rose 37% to OR2.83bn at the end of March 2014 from OR2.07bn a year ago, the lender said.