HSBC Oman to host discussion session

Business Monday 18/February/2019 14:32 PM
By: Times News Service
HSBC Oman to host discussion session

Muscat: Muscat Securities Market (MSM) has invited several listed companies to host a discussion session at the MSM premises. HSBC Bank Oman’s CEO along with the management team will hold a session on Wednesday at 2.30pm at the CMA Businessman Hall.
The session will shed light on the bank's performance and discuss its future plans and programmes. The bank will be discussing its financial results for the year ended on December 31, 2018, in which the company achieved a 64.4 per cent growth in net profit to OMR31.40 million. This compares with OMR19.10 million for 2017, the increase being driven primarily by a 14.1 per cent growth in revenue.
Recently at a meeting held on January 30, 2019, the Board of Directors of HSBC Bank Oman proposed a cash dividend of 9.3 per cent of the nominal value per share (nominal value per share of 100 baisa) of OMR18.60 million for the year 2018.
A number of officials will attend the session—from the MSM, the Capital Market Authority, Muscat Clearing and Depository Company, investment and brokerage companies, pension and investment funds, analysts and journalists to the investors.
These sessions organised by the stock market will enhance the level of transparency between investors and listed companies. They will also allow an opportunity to companies to provide clarity on the figures behind the disclosed data and to identify the most important plans and projects by companies, as well as their current and future opportunities and challenges.