Mubasher: The financial statements of Bank Sohar showed a 20% growth in its profits for the second quarter of 2017, compared to the year-ago period.
The bank’s profits reached OMR 5.58 million ($14.44 million) in Q2-17, compared to OMR 4.65 million ($12.04 million) in Q2-16, according to a filing to the Muscat Securities Market (MSM).
The Omani bank’s profits rose 31.3% in H1-17 to OMR 11.57 million, compared to OMR 8.81 million in H1-16.
On the other hand, operating profits fell 5.6%, reaching OMR 18.2 million in H1-17, compared to OMR 19.2 million in the corresponding period in the year earlier.
Bank Sohar had previously reported a 31.1% drop in its annual profits to reach OMR 19.11 million in 2016, compared to OMR 27.75 million in 2015.
