Bank Dhofar posts 10% growth in profit

Muscat: Bank Dhofar said that the bank’s net profit for the first nine months of 2016 grew by 10.42 per cent to OMR36.87 million, from OMR33.39 million for the same period of 2015.
The bank’s net loans and advances to customers during January-September period of 2016 also moved up by 10.91 per cent to OMR2.92 billion from OMR2.64 billion for the same period of last year. Also, deposits from customers increased by 9.4 per cent to OMR2.79 billion from OMR2.55 billion.
The operating expenses of the bank grew by 8.37 per cent to OMR41.63 million from OMR38.41 million during the period under review.
The initial results are un-audited and have not yet been presented to the bank’s board of directors for their approval.