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).
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|
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.