DUBAI, Oct 23 (Reuters) - National Bank of Oman (NBO), the sultanate’s fourth-largest lender by market capitalisation, posted an 18 percent rise in third-quarter net profit, beating analysts’ forecasts.
The lender made a net profit of 12.4 million rials ($32.21 million) for the three months ending Sept 30, Reuters calculations show, compared with 10.5 million rials in the prior year period.
Five analysts polled by Reuters had on average expected the bank to post a net profit of 10.6 million rials for the third-quarter.
Reuters calculated the net profit figure based on the bank’s previous financial results. NBO posted a net profit of 31.2 million rials for the first nine months of the year, compared with 30.5 million rials in the prior-year period, it said in a statement to the Muscat stock exchange said on Wednesday. ($1 = 0.3850 Omani rials) (Reporting by Praveen Menon; Editing by Dinesh Nair)