Bank Muscat's net profit rises 9.2% to RO209mn in 9 months

19/10/2026 04:22 AST

Bank Muscat reported a 9.2% increase in net profit to over RO209mn for the first nine months of 2026, supported by growth in interest and Islamic financing income, higher non-interest income and lower impairment losses.

The bank's preliminary unaudited results for the nine months ended September 30, 2026, showed net profit of RO209.18mn, up from RO191.57mn in the corresponding period of 2025.

Net interest income from conventional banking and net income from Islamic financing rose 3.4% to RO321.4mn from RO310.9mn a year earlier.

Non-interest income increased 6.5% to RO131.63mn from RO123.57mn, mainly reflecting growth in business volumes.

Operating expenses rose 5.8% to RO172.27mn from RO162.82mn in the first nine months of 2025. However, net impairment losses on financial assets declined to RO32.76mn during January - September 2026 from RO43.63mn in the same period a year ago, helping support the bank's profitability.

The bank also recorded growth in its lending and deposit portfolios. Net loans and advances, including Islamic financing receivables, increased 7.9% year-on-year to RO11.552bn at the end of September 2026, compared with RO10.704bn a year earlier.

Customer deposits, including Islamic customer deposits, rose 8.1% to RO10.919bn from RO10.099bn over the same period.

Total assets grew 9.9% year-on-year to RO15.998bn at the end of September 2026, up from RO14.558bn a year earlier.

Bank Muscat said its full financial results for the nine months ended September 30, 2026, together with the complete set of unaudited financial statements, would be released following approval by the board of directors at a meeting scheduled for later in October.

Muscat Daily