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HSBC Oman reports OR5.8m net income
- Oman: Tuesday, April 02 - 2013 at 08:18
HSBC Bank Oman has reported a 60.2% jump in operating income and an 81.5% surge in net interest income as per IFRS accounting for the year ended December 31, 2012, Muscat Daily has reported. Expenses of integrating HSBC and Oman International Bank (OIB) in 2012 of OR13.9m contributed to a rise in total operating expenses to OR48.7m for the year. This, together with higher impairment charges, led to a reduction in net profit to OR5.8m in 2012, the bank said. Customer deposits stood at OR1.85bn as of December 31, 2012, up 147.8% from the same period in 2011, it said.
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