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

National Bank of Oman's full-year net profit fell 42.5 per cent to 26.11m Oman rials ($67.82m) from 45.38m 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-per cent drop in customers' deposits and a 2.5-per cent 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.