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HSBC Bank Oman H1 net profit rises 4.3%

  • HSBC Bank Oman, recently formed by a merger of HSBC's Oman unit and Oman International Bank, has posted a 4.3 percent increase in net profit for the first six months of 2012.

    Net profit sat at $18.7 million compared to the same period last year.

    The formal completion of the merger was announced last month with HSBC holding 51 percent.

    OIB was previously Oman's fifth-largest bank with gross assets of $3.2 billion.