Monday, 26 January 2009

BankMuscat sees 11% rise in net profit

BankMuscat, the leading Omani bank, saw a 29.8% increase in net interest income and a healthy 11% rise in its bottom line. We were impressed to see the cost income ratio decline to 35.6% from 40.7! Admittedly, this is due to the increase in income but it does show a focus on avoinding increasing costs which we like.

On the downside, there was a one off imparement charge.

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