Bahrain-based BankMuscat International announced a net profit of BD2.26 million for the first half of this year, ending June 30.

It is an increase of 21 per cent compared to the same period last year when the bank recorded a net profit of BD1.9 million.

Loans and Advances stood at BD321 million as compared to BD204 million at June 30 last year.

'BMI was set up with a clear purpose - to provide our customers with a range of innovative products and services while delivering a profitable, sustainable and consistently growing performance,' said bank general manager Abbas Al Derazi.

'I am pleased that we have been consistently delivering on this as demonstrated by our recent 21 per cent increase in profit as compared to June last year.

'The ongoing enhancement and expansion of our ATM network within the country as well as the imminent launch of our e-channels bouquet will serve to bring us closer to our customers in the second half of the year.'

'We will continue to invest, as planned, in our brand, infrastructure and people, to create value for our stakeholders and I take this opportunity to thank our shareholders, customers and staff for their continued commitment and support,' he said.

Total assets stood at BD 415 million and rose by 40 per cent over the BD296 million recorded at the end of June last year.

Return on Equity stood at 14 per cent while Earnings Per Share was 0.208 fils.