Bank Sohar posts 59% jump in 2012 net profit
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Bank Sohar posts 59% jump in 2012 net profit

Bank Sohar posts 59% jump in 2012 net profit

Omani lender Bank Sohar has reported a 58.73% year-on-year jump in net profit for the full-year 2012 to OR23.01m, Muscat Daily has reported. Operating income rose 21.14% from R43.19m in 2011 to OR52.32m in 2012. Accordingly, the cost-to-income ratio improved from 53.7% in 2011 to 45.2% in 2012, the lender said. Net loans and advances grew 12.40% to reach OR1.15bn as on December 31, 2012, while customer deposits grew 14.17% to OR1.34bn, it added.

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