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BankMuscat reports RO72m net profit for nine months

BankMuscat, the Sultanate's biggest bank in terms of market share and market value, has achieved a net profit of RO72.2m for the first nine-month period of 2010, against RO80.4m for the same period last year, Times of Oman has reported. Net profit for the first nine months in 2009 included RO53.2m post-tax gain on sale of HDFC Bank investment, RO8.5m losses on available-for-sale investment portfolio and around RO30m of credit losses towards Saudi branch exposures.