Oman's NBO reports 42.5 pct full-year profit drop

DUBAI | Sun Jan 17, 2010 4:45am EST

DUBAI Jan 17 (Reuters) - National Bank of Oman's NBO.OM full-year net profit fell 42.5 percent to 26.11 million Oman rials ($67.82 million) from 45.38 million rials in 2008, according to a filing on the Muscat stock exchange on Sunday.

National Bank of Oman, the sultanate's third-largest lender by market value, posted a 6-percent drop in customers' deposits and a 2.5-percent decline in loans for the full year.

The company is the third Omani bank to disclose full-year results.

NBO's results are still subject to approval from the bank's board of directors and didn't provide a quarterly breakdown. (Reporting by Nicolas Parasie; editing by John Irish)

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