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 INITIAL UNAUDITED ANNUAL FINANCIAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2016

HSBC Bank Oman S.A.O.G. (‘HBON’) announces its initial unaudited financial results for the year ended 31 December 2016.  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 initial unaudited annual 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 16

31 Dec 15

Change %

 

RO million

RO million

Total assets

2,253.9

2,199.9

             2.5

Loans and advances to customers - net

1,418.4

1,200.8

            18.1

Customer deposits

1,866.7

1,802.3

             3.6

Total equity

313.7

308.5

             1.7

Operating income

75.2

73.5

             2.3

Loan impairment (charges) – net of recoveries

(5.6)

(3.4)

          (64.7)

Operating expenses

(48.4)

(54.7)

            11.5

Profit for the year

16.9

12.9

            31.0