BankDhofar profit grows to OMR13.6 million

Muscat: BankDhofar achieved a 15.12 per cent growth in net profit at OMR13.56 million for the first quarter of this year, over the same period of 2015.
The bank’s net loans and advances to customers for the three-month surged ahead by 17.39 per cent to OMR2.81 billion from OMR2.39 billion. Deposits from customers moved up by 6.19 per cent to OMR2.81 billion from OMR2.64 billion in the first quarter period under review, according to a disclosure statement posted on MSM website.
BankDhofar said its operating income surged ahead by 25.98 per cent to OMR33.76 million, while operating expenses showed a 14.36 per cent growth at OMR13.65 million.
Total assets of bank also soared by 14.25 per cent to OMR3.76 billion by end-March, 2016. The results are unaudited and are yet to get approval from the board of directors.