Middle East Economic Survey
BankMuscats Profits Rise 26% In 2004
BankMuscat has announced an improvement in financial results in 2004 with net profits rising to OR34.1mn ($88.6mn), from OR27.1mn ($70.4mn) in 2003, a 25.8% increase. Net interest income was up 9.3% from OR68.8mn ($178.7mn) to OR75.2mn ($195.3mn); while non-interest income climbed by 15.1% from OR19.8mn ($51.4mn) to OR22.8mn ($59.2mn). BankMuscat commanded an Omani market share of 36.7% in terms...