Mubasher: The initial unaudited financial statements of HSBC Oman for the second quarter of fiscal 2016 showed a growth of 214.3% year-on-year in the banks’ earnings.

Net profit amounted to OMR 4.4 million ($11.39 million in Q2-16, versus OMR 1.4 million ($3.62 million in Q2-15, according to a bourse statement released on Wednesday.

In the first half of the year, the bank recorded a net profit of OMR 7.9 million; 52% up from OMR 5.2 million in the same period of 2015.

The bank’s loans portfolio grew by 6.9% to OMR 1.4 billion in H1-16, compared to OMR 1.31 billion in H1-15.

Customer deposits decreased by 6.2% to OMR 1.83 billion by the end of June 2016, versus OMR 1.95 billion a year earlier.

HSBC Oman earlier posted a net profit of OMR 3.5 million in Q1-16, compared to OMR 3.8 million in Q1-15.