Mubasher: Bank Muscat reported on Wednesday a net profit of OMR 46.44 million ($120.21 million for the third quarter of the fiscal year 2016, 0.07% up from OMR 46.41 million ($120.13 million) for Q3-15.

In the first nine months of the year, net profit after tax grew by 0.5% to OMR 136.91 million from OMR 136.23 million for the same period of 2015, according to a bourse filing.

Net Interest Income from Conventional Banking stood at OMR 187.95 million for the first nine months of 2016 compared to OMR 176 million for the same period last year, an increase of 6.8%.

Net income from Islamic financing was OMR 17.78 million for the nine months of 2016, versus OMR 13.68 million a year ago, rising 30%.

Non-interest income came to OMR 108.47 million for the nine month period ended on 30 September 2016, compared to OMR 112.87 million for the same period in 2015.

Operating expenses for the nine-month period reached OMR 129.02 million, 2.4% up from OMR 126 million for the same period last year.

Net Loans and advances increased by 7.1% to OMR 7.032 billion, compared to OMR 6.566 billion as at 30 September 2015.

Customer deposits rose by 0.8% to OMR 6.831 billion from OMR 6.778 billion by the end of September 2015.