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DUBAI / Reuters
Oman’s Bank Dhofar, the second-largest lender in the sultanate by assets, posted a 19.6 percent fall in fourth-quarter net profit, according to Reuters calculations.
The bank reports a net profit of 10.75 million rials ($27.95 million) in the three months to Dec. 31, compared to 13.37 million rials in the same period of 2015. Net loans and advances of the bank rose 9.5 percent year on year to 2.99 billion rials at the end of December. Deposits over the same period gained 11.3 percent to 2.89 billion rials.
Bank Dhofar said in October it had ended merger negotiations with smaller rival Bank Sohar after the two sides were unable to reach agreement on certain issues related to the tie-up.