Oman bank profits, loans growing solidly - c.bank

ABU DHABI Oct 22 (Reuters) - Commercial banks in Oman are growing solidly and they are expected to post roughly a 10 percent rise in profits this year, the head of the central bank, Hamood Sangour al-Zadjali, said on Saturday.

"The Oman banking sector is resilient, strong and comfortable. Looking at profits of Q3, we will see upward growth of about 10 percent for 2011," Hamood Sangour Al-Zadjali told Reuters on the sidelines of a meeting of Gulf Arab finance ministers and central bankers.

He said profits were being driven by core business and credit growth. Loan books were growing at a rate of 8 to 10 percent on year at the end of the third quarter, and deposits were showing similar expansion, he added.