Bloomberg News

Oman International Bank Profit Rises 2% on Interest Income

January 31, 2012

Jan. 31 (Bloomberg) -- Oman International Bank SAOG, which is in negotiations to merge with the Oman operations of HSBC Holdings Plc, said full-year profit gained 2 percent.

Net income climbed to 18 million rials from 17.6 million rials a year earlier, the lender said in a statement to the Muscat bourse today. Interest income rose to 36.8 million rials from 36.6 million rials. The bank proposed a cash dividend of 12.75 percent and stock dividend of 1.25 percent.

Global Investment House KSCC estimated a profit of 16.4 million rials, while Gulf Baader Capital Markets SAOC forecast it at 10.8 million rials, according to data compiled by Bloomberg.

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net


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