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 Preliminary unaudited annual financial results for the year ended 31st December 2012 for HSBC Bank Oman S.A.O.G.
 
In compliance with the rules and guidelines on Disclosure by Issuers of Securities and Insider Trading issued by the Capital Market Authority, HSBC Bank Oman S.A.O.G. (‘HSBC Bank Oman’) announces its preliminary unaudited annual results for the year ended 31st December 2012.
 
 
Key highlights:
 
· Net interest income was up by 81.5% to RO40.1m (compared with RO22.1m for the same period in 2011).
· Total other operating income improved by 60.2% to reach RO20.4m.
· Loan impairment charges net of recoveries was RO4.6m.
· Operating expenses rose to RO48.7m, the increase is primarily due to integration expenses of RO13.9m.
· Net Profit experienced a 62.7% decrease to RO5.8m (compared with RO15.5m for the same period in 2011).
 
 
2012
2011
 
 RO’000
 RO’000
Net interest income 
 40,076
22,084
Total other operating income
20,453
12,767
Total operating income  
 60,529
34,851
Operating expenses 
 (48,734)
(18,816)
Profit for the year    
 5,796
15,528
 
 
The above preliminary unaudited financial results are subject to the approval of the Board of Directors, the Central Bank of Oman and the shareholders of the Bank.