National Bank of Oman posts flat Q2 net profit; beats estimates

The national bank of Oman beats Analyst estimates by posting a near-flat second quarter net profit. (Photo courtesy: Arabian Business)

National Bank of Oman, the sultanate’s fourth-largest lender by market capitalization, posted a near-flat second quarter net profit, Reuters calculated, beating analyst estimates.

The lender made a second-quarter net profit of 10.17 million rials ($26.4 million) compared with 10.3 million rials in the corresponding period in 2012.

Net profit for the first half of the year was 18.77 million rials compared with 19.92 million rials in the prior year period, NBO said in a statement on Oman’s bourse.

Five analysts polled by Reuters had on average expected the bank to post a net profit of 9.53 million rials for the second quarter. ($1 = 0.3850 Omani rials)

Last Update: Wednesday, 20 May 2020 KSA 09:41 - GMT 06:41