Bank Sohar posts $7.35m profit in Q1

Bank Sohar, Oman's fifth-largest bank by market value, yesterday said it swung to a first-quarter net profit of RO2.83 million (Dh7.2m, $7.35m). Bank Sohar had in the year-ago period posted a first-quarter net loss of RO0.78m. The bank was launched in 2007 and posted its first quarterly profit in the second quarter of 2009.