Bank Muscat third quarter net profit rises 15 percent

Bank Muscat, Oman's largest lender, posted a 15 percent increase in third-quarter net profit on October 13, according to Reuters calculations, meeting analysts' estimates on the back of higher net interest income. The bank made a profit of 46.4 million Rials ($120.5 million) in the three-month period to September 30, up from 40.4 million Rials a year earlier.
Bank Muscat didn't disclose a quarterly breakdown of its earnings so Reuters calculated the figure based on the bank's previous financial statements.
Two analysts polled by Reuters had forecast Bank Muscat's third-quarter profit would be 43.7-45.3 million Rials.
The bank's nine-month net profit was 136.2 million Rials versus 126.7 million Rials in the year-ago period. Loan impairments during the nine-month period rose to 42.7 million Rials from 40.7 million Rials.