Mubasher: Bank Dhofar’s initial unaudited financial statements showed a rise of 15.1% year-on-year in its net profit for the first quarter of the fiscal year 2016.
Net profit reached OMR 13.56 million ($35.13 million) in Q1-16, versus OMR 11.78 million ($30.52 million) in Q1-15, according to a bourse filing released on Sunday.
Operating income amounted to OMR 20.12 million ($52.26 million) in the three-month period, rising 35.3% from OMR 14.87 million ($38.62 million) a year earlier.
Operating revenue also increased 26% to OMR 33.77 million ($87.71 million) in Q1-16, compared to OMR 26.8 million ($69.61 million) in Q1-15.
Operating expenses surged 14.3% to OMR 13.65 million ($35.22 million) from OMR 11.94 million ($31.01 million).
The Muscat-listed bank earlier posted a net profit of OMR 46.77 million ($121.48 million) in 2015, up 15.6% from OMR 40.45 million ($105.07 million).
