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Ahli Bank records outstanding performance in first quarter

9 May 2021

Amid current economic conditions brought about by the effects of the coronavirus pandemic, Ahli Bank has achieved impressive results in the first quarter of 2021. 

This achievement comes on the heels of the successful implementation of a series of customer-centric initiatives aimed at sustaining the bank’s growth, which has been on a consistent growth trajectory over the years, the bank said in a press release.

Ahli Bank’s total assets recorded a 12.1 per cent growth, reaching RO2.821bn as of the end of March 2021. Customer deposits increased by 13.2 per cent, reaching RO1.947bn compared with the same period in 2020. 

The bank’s loans, advances and financing grew by 7 per cent to RO2.274bn. 

Ahli Bank’s operating income rose by 4 per cent to RO19.62mn as of the end of March 2021; while its operating expenses decreased by 1.6 per cent. Profits during the period; however, fell by 9.4 per cent, mainly on account of higher impairment on financial assets in the first quarter of 2021 compared with the same period in 2020.

Said Abdullah al Hatmi, chief executive officer of Ahli Bank said, “Ahli Bank is proud of its successes and achievements of the last three months as it has been slowly but steadily fortifying its position in Oman’s banking sector. We believe that our real success is reflected in our ability to continue to adhere to sustainable business practices, and balance growth with moral and social responsibilities, in addition to the continuous expansion of the bank’s branch network.”

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