HSBC Bank Oman H1 profits up 3.8 per cent
HSBC Bank Oman reported a 3.8 per cent rise in H1 profits to OMR 8.2 million.
Operating expenses were slightly down by 0.8 per cent to OMR 24.6 million.
The bank saw 5.9 per cent rise in total assets to OMR 2,371.1 million while net loans and advances to customers were down 4.9 per cent to OMR 1,331.1 million. Customers’ deposits were up 6.8 per centto OMR 1,958.8 million.
Operating income was down 4.3 per cent to OMR 35.8 million but the bank noted a fall in loan impairment charges net of recoveries to OMR 1.3 million, down from OMR 3.4 million a year ago, an improvement of 61.8 per cent.