National Bank of Oman posts 11% drop in Q1 profit

National Bank of Oman, the sultanate's fourth-largest lender by market capitalisation, posted an 11 percent drop in first-quarter net profit, missing the average profit forecast of analysts.

The lender made a net profit of OR8.6m ($22.3m) for the quarter, compared with a profit of OR9.6m for the year-ago quarter, NBO said in a bourse statement on Wednesday.

Four analysts polled by Reuters had on average expected the bank to post a net profit of OR10.3m for the first quarter.

Related:

Market Performance

National Bank of Oman
0.334
0.0 0.0 (%)
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

All comments are subject to approval before appearing

Further reading

Features & Analysis
Saudi Arabia, other issuers gear up as Gulf bond crush looms

Saudi Arabia, other issuers gear up as Gulf bond crush looms

Cash-strapped region gears up for one of its heaviest-ever periods...

Saudi central bank fights to curb money rate rise

Saudi central bank fights to curb money rate rise

Commercial bankers say more radical steps may be needed to fight...

Are the troubles easing for Saudi construction giant Binladin?

Are the troubles easing for Saudi construction giant Binladin?

Gulf kingdom's biggest builder appears to have pulled back from...

Most Popular
Most Discussed
sponsoredTracking