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 PRELIMINARY UNAUDITED INITIAL ANNUAL FINANCIAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2014

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. (‘HBON’) announces its preliminary unaudited initial annual results for the year ended 31 December 2014.

These preliminary unaudited initial financial results are subject to the approval of the Board of Directors, the Central Bank of Oman and the shareholders of the Bank.

 Key highlights:

 

31-Dec-14

31-Dec-13

Change (%)

 

RO’million

RO’million

Total assets 

2,242.9

2,220.9

1.0%

Loans and advances to customers - net

1,161.3

980.5

18.4%

Customer deposits

1,852.3

1,792.7

3.3%

Total equity 

309.9

305.8

1.3%

Operating income   

71.0

68.7

3.3%

Loan impairment (charges) - net of recoveries

(2.9)

2.2

-231.8%

Operating expenses  

(55.3)

(57.8)

4.3%

Profit for the year     

12.2

10.9

11.9%