Mubasher: The financial statements of HSBC Oman revealed a 43.2% decrease in its profits for the second quarter of 2017, compared to the year-ago period.

The bank’s profits stood at OMR 2.5 million ($6.47 million) in Q2-17, compared to OMR 4.4 million ($11.39 million) in Q2-16, according to a bourse filing to the Muscat Securities Market (MSM).

The MSM-listed bank’s profits rose 3.8% in H1-17 to OMR 8.2 million, from OMR 7.9 million in H1-16.

Operating income declined 4.3% in H1-17 to reach OMR 35.8 million, compared to OMR 37.4 million in the same period in the year before.

Year-on-year, operating expenses shed 0.8%, reaching OMR 24.6 million, compared to OMR 24.8 million.

The bank’s profits surged 63% in Q1-17 to reach OMR 5.7 million, compared to OMR 3.5 million.