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 HSBC BANK OMAN S.A.O.G. PRELIMINARY UNAUDITED ANNUAL FINANCIAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2015

HSBC BANK OMAN S.A.O.G.

PRELIMINARY UNAUDITED ANNUAL FINANCIAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2015

 HSBC Bank Oman S.A.O.G. (‘HBON’) announces its preliminary unaudited financial results for the year ended 31 December 2015. This is in compliance with the rules and guidelines on Disclosure by Issuers of Securities and Insider Trading issued by the Capital Market Authority. 

The preliminary unaudited financial results are subject to approval by HBON's Board of Directors, the Central Bank of Oman and the shareholders of the bank.

  Key highlights: 

 

31-Dec-15

31-Dec-14

Change (%)

 

ROm

ROm

Total assets 

2,199.9

2,242.9

(1.9)

Loans and advances to customers - net

1,200.8

1,161.3

3.4

Customer deposits

1,802.3

1,852.3

(2.7)

Total equity 

308.5

309.9

(0.5)

Operating income   

73.5

71.0

3.5

Loan impairment (charges) - net of recoveries

(3.4)

(2.9)

17.2

Operating expenses  

(54.7)

(55.3)

1.1

Profit for the year     

12.9

12.2

5.7