MUSCAT: Bank Nizwa, the Sultanate’s first Islamic bank, said its net loss for the first half of 2015 declined by 18 percent to OMR3.2 million, from OMR3.90 million for the same period last year.
The bank’s financing to customers surged ahead by 206 percent at OMR205.28 million for the first half of this year, from OMR67.29 million for the same period last year.
Customer deposits also soared by 124 per cent to OMR135.72 million from OMR60.69 million during the period under review, the bank said in a stock market filing.
Bank Nizwa’s operating income rose by 46 percent to OMR5.01 million, while its operating expenses were up by 5 per cent to OMR7.69 million.
Total assets of the bank rose by 27 percent to OMR300.30 million by the end of June, 2015 from OMR236.03 million for the same period last year.
The unaudited financial results are subject to the approval of the board.
