Mubasher: Al Izz Islamic Bank reported a 15% rise in its losses year-on-year during the fourth quarter of 2016, according to a bourse statement.

Losses stood at OMR 1.3 million ($3.38 million) in Q4-16, compared to OMR 1.13 million ($2.91 million) in Q4-15.

The company suffered losses of OMR 4.72 million in 2016, down 11.79% from OMR 5.36 million in 2015.

Operating revenues rose 49.64% to OMR 8.97 million in 2016, compared to OMR 6 million in 2015.

The bank’s stock stabilised at OMR 0.07 on Sunday.