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National Bank of Oman Q2 net profit jumps 21.4 pct, beats estimates
July 14, 2015 / 9:39 AM / 2 years ago

National Bank of Oman Q2 net profit jumps 21.4 pct, beats estimates

DUBAI, July 14 (Reuters) - National Bank of Oman, the sultanate’s third-largest lender by assets, posted a 21.4 percent rise in second-quarter net profit according to Reuters calculations, beating analysts’ expectations.

The lender made a net profit of 15.46 million rials ($40.2 million) in the three months to June 30, up from 12.74 million rials in the same period last year, Reuters calculated. The bank did not provide a quarterly breakdown in its earnings statement.

Three analysts polled by Reuters had forecast an average second-quarter profit of 12.97 million rials.

NBO reported a net profit for the first six months of 2014 of 28.1 million rials, up from 23.0 million rials in the same period of last year, a bourse filing showed on Tuesday.

Loans and advances stood at 2.43 billion rials at the end of June, 10 percent higher year-on-year, but customer deposits fell 12 percent over the same period to 2.46 billion rials. (Reporting by David French; Editing by Andrew Torchia)

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