Mubasher: Bank Muscat reported a 1.1% growth year-on-year in its profits during the fourth quarter of 2016, according to a bourse filing.

Profits reached OMR 39.65 million ($457.04 million) in Q4-16, compared to OMR 39.22 million ($101.53 million) in Q4-15.

The bank’s net profits grew 0.63% to OMR 176.56 million in 2016, compared to OMR 175.45 million in 2015.

Operating expenses increased 1.8% to OMR 174.08 million in 2016, compared to OMR 171.06 million in 2015.

The bank’s stock stabilised at OMR 0.470 by 11:45am Muscat time, generating OMR 49,360 from the exchange of 105,000 shares.