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 INITIAL UNAUDITED FINANCIAL RESULTS FOR THE THREE MONTHS ENDED 31 MARCH 2018

HSBC Bank Oman S.A.O.G. (‘HBON’) announces its initial unaudited financial results for the three months ended 31 March 2018.  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 financial results are subject to approval by HBON's Board of Directors.

 Key highlights: 

 

31 March 18

31 March 17

Change %

 

RO’million

RO’million

Total assets

2,411.2

2,339.6

3.1

Loans and advances to customers - net

1,427.1

1,261.5

13.1

Customer deposits

1,972.6

1,941.4

1.6

Total equity

315.2

309.6

1.8

Operating income

20.8

17.8

16.9

Change in expected credit losses and other credit impairment charge

 

1.6

 

-

 

-

Loan impairment charges and other credit risk provisions - net of recoveries

-

 

1.2

 

-

Operating expenses

(12.7)

(12.2)

(4.1)

Profit for the period

8.1

5.7

42.1