Mubasher: Bank Nizwa shrank 29% of its losses to OMR 4.23 million ($10.95 million) in the first nine months of 2015, compared to OMR 5.96 million ($15.43 million) in the same period of 2014, according to a bourse filing.

Net operating income increased 54.4% to OMR 8.28 million as at 30 September 2015, compared to OMR 5.35 million in 2014.

The Omani bank’s operating expenses grew 4.5% to OMR 11.55 million from OMR 11.05 million.

Customer deposits surged 146% to reach OMR 170.58 million in the first nine months of 2015, compared to OMR 69.38 million in the corresponding period of 2014.