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Ahlibank’s profit rises 6.5 per cent to RO13.3mn in H1 2021

21 Aug 2021

Ahlibank announced that its net profit for the first half of 2021 rose by 6.5 per cent to RO13.31mn compared to RO12.5mn in the same period of last year.

With market conditions gradually improving, the bank’s operating income increased by 8.7 per cent to RO39.47mn in the first six months of 2021. Ahlibank recorded 14.1 per cent year-on-year growth in total assets amounting to RO2.848bn as of end-June 2021.

The bank’s net loans, advances and financing grew by 6.5 per cent to RO2.286bn as of June 30, 2021 from a year ago. Customer deposits increased by 20 per cent to reach RO1.968bn compared with the same period in 2020.

In a press statement, Said Abdullah al Hatmi, CEO of Ahlibank, said, “We are glad to see the positive developments in the market, the domestic banking sector and the global financial sector as a whole. Whilst we experienced a particularly difficult and challenging time in the past year due to the COVID-19 pandemic, we have remained fully committed to continuously growing our asset portfolio, strengthening our market position, developing and launching new products and services and improving existing ones, at the back of building our digital infrastructure.”

He said, “Ahlibank has always aligned itself with the goals set out in Oman Vision 2040 and has emerged as a key supporter of the sultanate’s development efforts. These initiatives alongside the positive developments on both the domestic and global economic front have greatly contributed to keeping customer confidence high. These have also ensured increased value for our stakeholders.”

Keeping pace with the evolving market, Ahlibank has taken a proactive step in adopting an integrated VAT-compliance solution that will ensure operational excellence and improve customer experience, the bank said.

As part of its strategy and corporate values to enhance the customer journey and deliver a unique experience to its customers, Ahlibank has outlined its digital roadmap for the coming years. 

The bank continues to improve on its existing products and services while introducing new practical and convenient banking solutions to all segments of society.

 

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