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Islamic Finance Briefing - Categorized | Banking, Market Moves more

HSBC cashes in after its Omani acquisition

Posted on 31 July 2012

HSBC is cashing in on its recent acquisition of Oman International Bank. The recently merged HSBC Bank Oman reported a 4.3 per cent rise in second-quarter profit. Net income in the quarter ended June 31 stood at 7.2 million Omani rials, up from 6.9 million rials on the same period last year, the bank said.
The merger between HSBC and Oman International Bank - previously the country’s fifth-largest lender - was completed last month. HSBC had been Oman’s sixth-largest lender before the merger………………………………………..Full Article: Source

 
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Laxman - who has written 19160 posts on Opalesque Islamic Finance Briefing.


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