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FINANCIAL NEWS
Oman’s HSBC posts increase in net profit
15 Jan 2017
(MENAFN) HSBC Bank Oman proclaimed that its net profit for 2016 soared by 31 percent to OMR16.9mn, from OMR12.9mn in 2015.
Accordingly, net loans and advances moved up by 18.1 percent to OMR1.418.40mn by end-Dec 2016, from OMR1.200.80mn in the same period of 2015.
Moreover, customer deposits grew 3.6 percent to OMR1.866.7mn from OMR1.802.3mn amid the period review.
In addition, the bank’s operating income jumped by 2.3 percent to OMR75.2mn, from OMR73.5mn, while operating expenses were down to OMR48.4mn.
M
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