Muscat: Bank Muscat announced a net profit of RO 58.56 million during the first quarter of 2025 compared to RO 54.24 million during the corresponding period in 2024, comprising a rise by 8%.

According to Oman News Agency, net interest income from conventional banking and net income from Islamic financing stood at RO 102.00 million for the first three months of 2025 compared to RO 95.45 million for the same period in 2024, an increase of 6.9%, mainly due to the rise in loan volumes. Non-interest income also saw growth, standing at RO 38.67 million for the first three months of 2025 as compared to RO 37.25 million for the same period in 2024, marking an increase of 3.8%.

Operating expenses for the first quarter of 2025 reached RO 55.03 million, compared to RO 51.80 million for the same period in 2024, indicating an increase of 6.2%. Meanwhile, net impairment losses on financial assets for the first three months of 2025 decreased to RO 15.04 million from RO 16.22 million for the same period in 2024.

Net loans and advances, including Islamic financing receivables, increased by 6.9% to RO 10,540 million as against RO 9,860 million as of 31 March 2024. Customer deposits, including Islamic customer deposits, rose by 2.6% to RO 10,003 million compared to RO 9,750 million as of 31 March 2024.