DUBAI: National Bank of Oman, the sultanate's fourth-largest lender by market capitalisation, posted a 47.8 percent rise jump in fourth-quarter net profit yesterday, beating analysts' expectations.
The lender made a net profit of OR10.2m ($26.5m) in the final three months of 2012, according to Reuters calculations based on previous financial statements, up from OR6.9m in the same period in 2011.
Four analysts polled by Reuters had estimated an average fourth-quarter profit of OR8.7m.
Full-year profits stood at OR40.7m, climbing 19 percent on the previous year's figure of OR34.2m, a statement to the Muscat stock exchange said.
The bank was helped by a 15-percent rise in net interest income, which increased to 67.2 million rials in 2012.
Loans and advances grew by 14 percent in 2012, hitting OR1.91bn against OR1.67bn at the end of 2011.
Reuters
