Mubasher: Bank Sohar posted a drop of 4.5% in profits during the fourth quarter of 2016, compared to the same period a year ago.

Earnings amounted to OMR 6.17 million ($16.02 million) in Q4-16 from OMR 6.46 million ($16.78 million) in Q4-15, according to a bourse filing issued on Monday.

During the fiscal year of 2016, profits shrank by 31.1% to stand at OMR 19.11 million from OMR 27.75 million during the fiscal year 2015.

At the opening of Monday’s trading session, Bank Sohar’s stock fell by 2.52% to reach OMR 0.155, after nearly 25,50 shares were exchanged at a value of about OMR 3,900.