Company Overview of Oman International Bank SAOG
As of June 3, 2012, Oman International Bank SAOG was acquired by Oman Operations of HSBC Bank Middle East Limited in a reverse merger transaction. HSBC Bank Oman S.A.O.G. provides various banking and related financial products and services for corporate and individual customers. Its Retail Banking and Wealth Management business offers a range of products and services to meet the personal banking needs, consumer finance, and wealth management needs of individual customers. The products and service offerings include personal banking products, such as current and savings accounts, mortgages and personal loans, credit cards, debit cards, and local and international payment services; and wealth m...
PO Box 1727
Al Khuwair, 111
Founded in 1979
Key Executives for Oman International Bank SAOG
Oman International Bank SAOG does not have any Key Executives recorded.
Oman International Bank SAOG Key Developments
HSBC Bank Oman to Close Down its Four Branches in the Sultanate to Optimise Locations
May 7 13
HSBC Bank Oman is closing down its four branches in the Sultanate to optimise locations. The decision was taken following a comprehensive branch review by senior management that resulted in segmenting the branches in three categories -- flagship, mid-market and community. The move has been taken to ensure that the branches are strategically placed to give best to its customers while synergizing branches to have optimised use of location. Ruwi, Qurm, Sohar and Thumrait Air Base are the branches that have been shut down. Following the successful merger of OIB with HSBC Middle East's Oman operations in June 2012, the operations of four branches will be merged with effect from February 28, 2013.
HSBC Bank Oman SAOG, Board Meeting, Apr 29, 2013
Apr 30 13
HSBC Bank Oman SAOG, Board Meeting, Apr 29, 2013. Agenda: To approve company's unaudited financial results for the three months ended March 31, 2013.
HSBC Bank Oman SAOG Reports Unaudited Earnings Results for Three Months Ended March 31, 2013; Reports Impairment Charges for Three Months Ended March 31, 2013
Apr 30 13
HSBC Bank Oman SAOG reports unaudited earnings results for three months ended March 31, 2013. For the period the company reported net interest income was OMR 11.6 million compared to OMR 5.2 million for the same period in 2012. Total other operating income was OMR 4.9 million compared to OMR 3.2 million for the same period in 2012. This is due to a recovery of OMR 1.6 million from one corporate client and a general provision release of OMR 1.2 million due to a reduction in corporate loans and advances, which was partly offset by a net charge of OMR 0.3 million in retail loans and advances. Net profit was OMR 5.7 million compared to OMR 3.0 million for the same period in 2012.
A net recovery of OMR 2.5 million has been reported for loan impairment charges compared to a net charge of OMR 0.2 million for the same period in 2012. This is due to a recovery of OMR 1.6 million from one corporate client and a general provision release of OMR 1.2 million due to a reduction in corporate loans and advances, which was partly offset by a net charge of OMR 0.3 million in retail loans and advances.
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