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HSBC Bank Oman Q3 Net Profit Rises 9%

HSBC Bank Oman Q3 Net Profit Rises 9%

The lender made a net profit of OMR3.8 million ($9.87 million) in the three months to September 30, compared with OMR3.5 million in the same period of 2013.

HSBC Bank Oman, Oman’s fourth-largest lender by assets and an affiliate of HSBC Holdings, reported a nine per cent rise in third-quarter net profit on Wednesday.

The lender made a net profit of OMR3.8 million ($9.87 million) in the three months to September 30, compared with OMR3.5 million in the same period of 2013, according to Reuters calculations based on financial statements.

Gulf Baader Capital Markets forecast the bank would make a net profit for the period of 2.65 million rials.

Net profit for the first nine months of 2014 fell 25 per cent to OMR9.5 million, a bourse filing said on Wednesday.

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