Mubasher: Bank Dhofar’s initial un-audited financial results showed a 19.5% decline in the company’s profits for the fourth quarter of fiscal 2016 to OMR 10.75 million ($27.82 million), compared to OMR 13.37 million ($34.6 million) for Q4-15.

Profits for the fiscal year 2016 grew 1.8% to OMR 47.62 million from OMR 46.76 million for fiscal 2015, according to a bourse statement released on Sunday.

Operating income amounted to OMR 127.35 million in 2016, 10.52% up from OMR 115.23 million for 2015.