HSBC Holdings PLC (HSBA) - HSBC Bank Oman Q3 2012
RNS Number : 5389P
HSBC Holdings PLC
25 October 2012
The following news release was issued on 23 October 2012 by HSBC Bank Oman
S.A.O.G., a51% indirectly owned subsidiary of HSBC Holdings plc.
HSBC BANK OMAN S.A.O.G. RESULTS
Unaudited interim condensed financial results for the nine month period ended
30 September 2012 for HSBC Bank Oman S.A.O.G.
HSBC Bank Oman S.A.O.G ('HSBC Bank Oman') announces that at the Board of
Directors (the 'Board') meeting, held on Tuesday, 23 October 2012, the Board
approved HSBC Bank Oman's unaudited interim condensed financial results for
the nine month period ended 30 September 2012, and also approved the Board of
· Net interest income was up by 60.0% to RO26.69m (compared with RO16.68m
for the same period in 2011).
· Other income improved to RO14.88m (compared with RO9.36m for the same
period in 2011).
· Operating expenses rose to RO26.75m (compared with RO13.97m as at 30
· Loan impairment charges net of recoveries was RO2.29m compared to net
recoveries of RO0.64m for the same period in 2011. The increase was mainly due
to higher general provisions and the downgrade of some customers to non
· HSBC Bank Oman's profit before provisions was up by 22.8% to RO14.82m
(RO12.07m for the same period in 2011).
· Net profit for the nine month period ended 30 September 2012 was RO10.57m
compared with RO11.03m for the same period in 2011 representing a decrease of
Media enquiries to Leen Al Atassi on +96824762737 or
Note to editors:
1. HSBC in the MENA Region
HSBC is the largest and most widely represented international banking
organisation in the Middle East and North Africa (MENA), witha presence in 14
countries across the region. HSBC has operations in the United Arab Emirates,
Egypt, Qatar, Oman, Bahrain, Kuwait, Jordan, Lebanon, Pakistan, Algeria and
the Palestinian Autonomous Area. In Saudi Arabia, HSBC is a 40% shareholder of
Saudi British Bank (SABB), and a 49% shareholder of HSBC Saudi Arabia
forinvestment banking in the Kingdom. In Iraq, HSBC holds a majority
shareholding in Dar Es Salaam Investment Bank. HSBC also maintains a
representative office in Libya.
This presence, the widest reach of any bank in the region, comprises some 273
offices and around 12,000 employees. In the first half of 2012, HSBC in the
MENA region made a profit before tax of US$772m.
2. HSBC in Oman
HSBC is the largest international bank operating in the Middle East, and Oman
is an important market in the region for HSBC. Oman has one of the most stable
political, social and economic environments in the region, with a growing
economy supported by a young population and significant investments in
3. HSBC Holdings plc
HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in
London. The Group serves customers worldwide from around 6,900 offices in over
80 countries and territories in Europe, the Asia-Pacific region, North and
Latin America, and the Middle East and North Africa. With assets of US$2,652bn
at 30 June 2012, the HSBC Group is one of the world's largest banking and
financial services organisations.
This information is provided by RNS
The company news service from the London Stock Exchange
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