Muscat, May 15th 2013 - HSBC Bank Oman S.A.O.G. recently hosted HSBC Bank Middle East Ltd.'s (HBME) Board of Directors' meeting at its Head Office in Al Khuwair. The meeting reinforced the commitment of the wider HSBC Group to the Sultanate to strengthen and grow its operations in Oman. HBME has more than 250 offices across the Middle East & North Africa that stretch from Egypt to Pakistan with a workforce of over 12,000 employees.

"It was an honour to host the Board of Directors' meeting of HSBC Bank Middle East here in Oman," said Ewan Stirling, CEO of HSBC Bank Oman.

He added, "In addition to fulfilling their board responsibilities, we were able to share our plans for HSBC Bank Oman to become the leading bank in the Sultanate, outlining our commitment to the country, to leverage our global strengths locally and to provide great customer service at all times."

During the Board's visit to the Sultanate, David Eldon, Chairman of HBME, along with Simon Cooper, CEO of HBME and Chairman of HSBC Bank Oman, paid a courtesy visit to the Central Bank of Oman (CBO). Eldon and Cooper updated H.E. Hamood bin Sangour Al Zadjali, Executive President of CBO, on HBME's latest developments and achievements in Oman and throughout the region.

HSBC Bank Oman is the second largest bank in the Sultanate by branch number with more than 80 branches and over 130 ATMs. The bank posted a 91% increase in net profit for the first quarter of 2013 and a 124% increase in net interest income. Stirling said that the bank's financial performance during the first quarter demonstrated management's progress in implementing the strategy of HSBC Bank Oman.

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HSBC in the MENA Region
HSBC is the largest and most widely represented international banking organisation in the Middle East and North Africa (MENA), with a presence in 14 countries across the region. HSBC has operations in the United Arab Emirates, Egypt, Qatar, Oman, Bahrain, Kuwait, Jordan, Lebanon, Pakistan, Algeria and the Palestinian Autonomous Area. In Saudi Arabia, HSBC is a 40% shareholder of Saudi British Bank (SABB), and a 49% shareholder of HSBC Saudi Arabia for investment banking in the Kingdom. In Iraq, HSBC holds a majority shareholding in Dar Es Salaam Investment Bank. HSBC also maintains a representative office in Libya.

This presence, the widest reach of any bank in the region, comprises some 273 offices and around 12,000 employees. In the full year 2011, HSBC in the MENA region made a profit before tax of US$1,492m.

HSBC in Oman
HSBC is the largest international bank operating in the Middle East, and Oman is an important market in the region for the bank. Oman has one of the most stable political, social and economic environments in the region, with a growing economy supported by a young population and significant investments in infrastructure.

Oman is also a key access hub to the fast-growing trade corridors connecting the MENA region with Asia - a major focus for growth for HSBC. Its economy is forecast to grow at a compound annual growth rate of 4%1 forecast from 2011 to 2016.

HSBC Holdings plc
HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 7,200 offices in over 80 countries and territories in Europe, the Asia-Pacific region, North and Latin America, the Middle East and Africa. With assets of US$2,556bn at 31 December 2011, the HSBC Group is one of the world's largest banking and financial services organisations.

For more information, please contact:
ShazaTaher
Senior Media Relations Manager
TRACCS Oman
Telephone: +968 24 649-099
Fax: +968 24 649-088
Email: shaza.taher@traccs.net

© Press Release 2013