Muscat – Bank Muscat has reported a 9.2% year-on-year increase in net profit for the first quarter of this year. The bank’s net profit rose to RO63.95mn for the three-month period ended March 31, 2026, compared with RO58.56mn in the same period of 2025.

Bank Muscat announced its preliminary unaudited results for the three months ended March 31, 2026 on Wednesday.

Net interest income from conventional banking and net income from Islamic financing stood at RO104.14mn for the period, up 2.1% from RO102mn a year earlier. Non-interest income increased by 6.4% to RO41.13mn, compared with RO38.67mn in the corresponding period of 2025, according to a press statement.

The bank’s operating expenses for the first quarter rose 5.0% to RO57.78mn, compared with RO55.03mn in the same period last year.

Net impairment losses on financial assets declined to RO11.24mn during the period, down from RO15.04mn a year earlier.

The bank’s loan book expanded by 6.3%, with net loans and advances, including Islamic financing receivables, reaching RO11.209bn at the end of March 2026, compared with RO10.541bn a year earlier.

Customer deposits, including Islamic customer deposits, increased by 4.9% to RO10.492bn, up from RO10.003bn as at 31 March 2025.

Bank Muscat’s total assets grew by 7.1% to reach at RO15.379bn as of March 31, 2026 compared with RO14.364bn a year earlier.

Bank Muscat said its full financial results for the three months ended March 31, 2026, along with the complete set of unaudited financial statements, will be released following board approval at a meeting scheduled later in April 2026.

© Apex Press and Publishing Provided by SyndiGate Media Inc. (Syndigate.info).