(MENAFN- Muscat Daily) HSBC Bank Oman SAOG has announced a 20.6 per cent growth in third-quarter net profit to RO12.7mn.
Net interest income stood at RO36mn for the quarter ended September 30, 2013, a 34.8 per cent gain from the same period last year. The bank's operating expense rose to RO40.5mn, reflecting the larger cost base of the merged bank. Customer deposits increased by 2.8 per cent to RO1.93bn, a press release said.
David Eldon, newly appointed chairman of the bank, said, ''We have made good progress on our strategic priorities and expect this positive momentum to continue. Our focus in the third quarter has continued to be on enhancing our customers' overall banking experience. We have also been focused on driving business performance and streamlining our processes for greater efficiency. We have completed the first phase of our branch restructuring. This is allowing us to deploy our resources more efficiently and will help us to deliver services and processes that are more effective and customer focused.''
Eldon said HSBC Bank Oman remains dedicated to developing its employees. A series of training programmes and internal campaigns have been delivered, aimed at creating an exceptional customer experience, which continue to put customers at the heart of everything it does.
''Building on the plan developed to meet the Central Bank of Oman's directives on Omanisation and to attract and develop Omani talent, HSBC Bank Oman successfully launched a two-year graduate programme aimed at fostering leadership development and personal growth. We remain focused on identifying and developing existing Omani talent and are building succession plans backed up with leadership and career development programmes,'' he said.
In support of this, HSBC Bank Oman recently announced the appointment of three new senior executives in key strategic business areas. Saud al Shidhani joined the bank as deputy chief operating officer; Abdul Qadir al Sumali as deputy general manager of retail banking and wealth management; and, Sulaiman al Lamki as deputy chief risk officer.
In line with its customer-focused strategy, HSBC Bank Oman introduced HSBC Secure Key during the first half of 2013 to provide greater online protection for customers. The bank has since made further progress, enhancing its digital proposition so customers can enjoy the bank's mobile banking application's enhanced security features, including sending remittances.
''Other digital banking developments are currently underway, which will make the way customers interact with us more convenient. These enhancements will clearly position us as the leading bank in Oman in terms of digital banking,'' Eldon added
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