The National Bank of Oman (NBO) recorded a 14.9% year-on-year increase in preliminary net profit to USD 101.6 million for the first half of 2026, driven by broad-based balance sheet growth across lending, deposits, and income.
Net interest income and income from Islamic financing rose 11.6% to USD 154.65 million, reflecting sustained momentum in both conventional and Shariah-compliant financing activity. Total assets climbed 13.1% to USD 16.10 billion as of 30 June 2026, while net loans and advances – including Islamic financing assets – grew 9.2% to USD 11.43 billion, and customer deposits expanded 9.3% to USD 11.59 billion. Net impairment charges rose 38.2% to USD 25.48 million, a notable uptick that will warrant monitoring as the bank scales its lending book.
NBO's results add to a growing body of evidence that Omani banks are navigating a constructive operating environment, with credit demand, deposit inflows, and income generation all trending positively through the first half of the year.
Gulf Economist Staff Writer