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Omani banks’ profits up 9.5%

The Omani central bank has said commercial banks in the country have reported a combined net profit of OR195m during the first seven months of this year, up from OR178m during the same period last year, Oman Daily Observer has reported. Credit accounted for OR14.9bn, or 68.2% of the total assets, recording an increase of 8.1%. Total assets increased by 10% to OR21.9bn at the end of July, compared with OR19.9bn during the corresponding period last year, the report said.