In a statement to the Muscat Securities Market , HSBC Oman reported its first full-year figures as an integrated entity following the merger between Oman International Bank and HSBC Bank Middle East's Oman unit which took place in June 2012 . The Board has recommended a cash dividend of OMR 0.38 /share. The bank said net profits were up 87.9 per cent, against combined data for 2012, while net interest income was up 20 per cent to OMR 48.1 million . Total other operating income rose from OMR 20.5 million to OMR 20.6 million . Operating expenses were up 18.7 per cent at OMR 57.8 million on integration costs. Loans and advances, net of provisions and reserved interest were down 17.9 per cent at OMR 980.5 million while customers' deposits were down 3.2 per cent to OMR 1.79 billion . The bank showed a net recovery of OMR 2.2 million in loan impairment charges. "This is due to recoveries from corporate clients and a general provision release due to a reduction in corporate loans and advances in 2013," the bank said. HSBC Bank Oman is the second largest bank Oman with a network of more than 80 branches and over 120 ATMs across the country. The bank's capital adequacy ratio at end-December 2013 was 20.2 per cent.
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