Oman Arab Bank net profit increases to OMR29 million
Oman Arab Bank (OAB) said the bank posted a net profit of OMR29.01 million for 2015 compared to OMR28.40 million reported in 2014. Net interest income rose by 12 per cent last year to reach OMR49.13 million while non-interest income stood at OMR30.62 million, a 9 per cent growth over the previous year. The bank’s net loans and advances increased by 21 per cent to reach OMR1.52 billion while customer deposits also rose by 9 per cent to reach OMR1.6 billion by end-December 2015. (Times of Oman)
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