Published: Jul 22, 2014
Source: Muscat Daily

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Alizz Islamic Bank reports RO 2.6 Mn loss

Alizz islamic bank has reported a loss of RO2.6mn for the period ended June 30, 2014 which the bank said, in a disclosure to the Muscat Securities Market, "is in line with its strategic plan."

Alizz said that it continued to grow its market share both in consumer and corporate banking. During the period ended June 30 2014, financing portfolio reached RO27mn, compared with RO20mn in the previous quarter. The deposit base rose to RO5mn during the same period.

Total assets increased to RO101.62mn as of June 30, 2014, from RO100.53mn at the end of the corresponding period in 2013. The bank had posted a net loss of RO1.47mn in the quarter ended March 31, 2014 and its total assets stood at RO110.4mn at the end of the first quarter of 2014.

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