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Bank muscat to hold investor meet today

Muscat - 

Bank muscat is hosting an investor meet at the Muscat Securities Market (MSM) today to discuss the bank’s 2012 results and business prospectus for the year 2013.

The meeting to be addressed by senior management is open for shareholders, investors, the media and analysts from brokerage and investment companies, a press release said.

The bank's net profit rose 18.5 per cent to RO139.2mn for the full-year 2012 compared to RO117.5mn for 2011. The bank’s operating income grew nine per cent with the support of increase in net interest income and non-interest income. Increase in loans and advances, lower cost funding and increase in fee income helped the bank to achieve strong operating results.

The return on average assets marginally improved to 1.84 per cent in 2012 from 1.79 per cent in 2011. The return on average equity also improved to 15.42 per cent in 2012 from 15.37 in 2011 in spite of increase in capital during the year reflecting the improvement in profitability of the bank.

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