Bank Nizwa posts RO1.3mn net profit

Bank Nizwa posted a net profit of RO1.3mn for the six months period ended June 30, 2017 against a net loss of RO727,000 in the same period of the previous year. The bank’s operating income rose 36 per cent to RO10.72mn in the first half of this year compared with RO7.87mn in the same period of 2016.

Bank Nizwa’s financing to customers surged by 39 per cent to RO485.38mn as of June 30, 2017 from RO350.25mn a year ago. Customers deposits jumped by 76 per cent to RO441.8mn from RO251.2mn a year ago.