DUBAI, April 13 Bank Muscat, Oman's
largest lender, posted a 1.1 percent increase in first-quarter
net profit on Thursday as net interest income and income from
Islamic financing rose.
Net profit rose to 44.2 million rials ($114.8 million) for
the quarter to March 31, up from 43.8 million a year earlier.
Gulf Baader Capital Markets had forecast a profit of 41.6
million rials, while EFG Hermes expected 45.7 million.
Net loans and advances rose 2.7 percent to 7.10 billion
rials while deposits fell 0.8 percent to 7.59 billion rials.
Net interest income rose 1.5 percent while income from
Islamic financing climbed 8.2 percent.
($1 = 0.3850 Omani rials)
(Reporting by Tom Arnold; editing by Jason Neely)