Ahlibank’s total assets cross RO2bn mark; 9 month net profit at RO19.8mn

Muscat - 

Ahlibank’s total assets grew by six per cent during the nine months period ended September 30, 2017 to cross RO2bn mark for the first time.

The bank’s loans, advances and financing rose 6.2 per cent to RO1.65bn for the first nine months period of 2017 against the same period a year ago, according to a press release issued by the Ahlibank.

As an indicator of growing popularity of the bank, Ahlibank’s customer deposits increased by a noteworthy 17.3 per cent to RO1.45bn.

Ahlibank has always been at the forefront of modern banking techniques, personalised services and efficient offerings and has grown to be one of the preferred banks in Oman. Ahlibank has published its financial report for the nine months period ended September 30, 2017.

Net profit after tax stood at RO19.8mn for the first nine months of 2017, which was 5.7 per cent lower compared with the same period of 2016. Total equity increased 5.7 per cent to RO248mn. The bank’s operating income increased 1.5 per cent to RO40mn while operating expenses decreased by 0.7 per cent RO14.2mn.

“We have seen steady growth during 2017, with the bank’s bottomline performance improving quarter over quarter, despite the economic challenges being faced,” Hamdan Ali Nasser al Hinai, chairman of Ahlibank, said.

“At Ahlibank, we constantly endeavour to raise the level of service for our customers, inculcate easier banking techniques and overall, encourage the habit of saving,” he added.

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