Bank Nizwa’s profit jumps to OMR3.79m

14/01/2018 07:39 AST

Bank Nizwa has reported a phenomenal growth in net profit for 2017. The bank’s net profit for 2017 surged ahead to OMR3.79 million, a growth of 3,343 per cent over the previous year’s profit of OMR110,000.

The bank’s finance to customers grew by 41 per cent to OMR567.83 million in 2017, up from OMR403.16 million, Bank Nizwa said in a disclosure statement posted on MSM website. Similarly, customer deposits shot up by 50 per cent to OMR525.85 million from OMR351.28 million.

Bank Nizwa said that its total assets showed a 35 per cent growth from OMR515.99 million in December 2016 to OMR696.63 million for the same period of 2017.

The un-audited results are subject to approval from the board and the Central Bank of Oman.


Times of Oman

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