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Bank Muscat, Oman’s largest bank by assets, saw its full-year (FY) 2022 net profit rise by 6% to 200.75 million riyals ($521 million) on higher net interest and non interest incomes.
Net interest income from conventional banking and Islamic financing combined stood at OMR344.86 million for the year ended 31 December 2022 compared to OMR335.54 million for the same period in 2021, an increase of 2.8%, the bank stated in a bourse filing on Sunday.
Net impairment was OMR59.94 million compared with OMR60.22 million for the same period in 2021.
(Writing by Brinda Darasha; editing by Seban Scaria)
