MUSCAT: Bank Sohar on Monday said its net profit for the first half of this year declined by 14.12 per cent to OMR13.87 million from OMR16.15 million posted for the same period last year.
The bank’s profit from conventional banking fell by 16.56 per cent to OMR13.57 million, while Islamic banking window operation has achieved a profit of OMR303,000 in the first half against a loss of OMR110,000 for the same period last year, according to the bank’s initial unaudited results posted on MSM website.
Net loans and advances of the bank surged ahead by 15.51 per cent to OMR1,584.70 million from OMR1,371.97 million during the period under review. Likewise, deposits from customers soared by 15.97 per cent to OMR1566.59 million from OMR1350.85 million. Total assets moved up by 9.75 per cent to OMR2,085.28 million by end-June 2015.
Bank Sohar shares declined by 1.03 per cent to 192 baisas, amid 334,419 shares changing hand. The financial results are subject to the approval of the bank’s board of directors.
