HSBC Bank Oman announces net profit of OMR 3.8 million for Q1 2015

28/04/2015 20:39 AST

HSBC Bank Oman announced a net profit of OMR 3.8 million for the three months ended 31 March 2015 representing a 22.6 per cent increase over the same period last year.

Net operating income before loan impairment charges increased by 15.5 per cent to OMR 18.6 million compared to OMR 16.1 million for the same period last year. Net interest income also increased by 5.2 per cent to OMR 12.1 million up from OMR 11.5 million for the same period in 2014 due to an increase in corporate loans and advances. Other operating income of OMR 1.5 million was reported for the period compared to OMR 0.02 million for the same period in 2014.

David Eldon, Chairman of HSBC Bank Oman, said: “We have seen a strong start to the year with solid performances in both the retail and corporate sectors. We remain focused on our strategic objectives of growing revenues, streamlining our processes and procedures and implementing the highest global standards within a framework of delivering excellence in customer service at all times.”


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