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BankDhofar posts OR19m profit

Oman's third largest bank by assets, BankDhofar has posted a net profit of OR19.46m for the six-month period ended June 30, 2012, Muscat Daily has reported. The bank had posted a net loss of OR4.5m in the first six months of 2011 after taking a one-off provision of OR26.1m to comply with a court order in a lawsuit filed by Oman International Bank (OIB). Net loans and advances for the first half of this year rose 24% to OR1.61bn, compared with OR1.3bn a year ago, while customer deposits surged by 30.1% to OR1.6bn from OR1.24bn, the lender said.