Sunday 24 / November / 2024
Muscat: ahlibank marked the first quarter of 2023 on a high note, powered by an extensive network of branches and a selection of innovative products and services and showcasing its strategic growth in the country as one of the most favoured banks.
ahlibank built upon its robust 2022 growth phase by reinforcing its operations with the inauguration of a new headquarters and signalling its intent to strengthen its 15-year presence in the market with equally impressive first-quarter results for 2023.
According to financial indicators, in line with ahlibank's overall performance, profit during the period reached OMR8.4 million increasing by 11.1 per cent, in the first quarter of 2023 compared to the same period in 2022.
ahlibank's customer deposits grew by 7.3 per cent, reaching OMR2,339.7 million during the first quarter, compared to the same period in 2022. Loans, advances, and financing expanded by 5.6 per cent, amounting to OMR2,571.7 million. The bank's operating income increased by 4.6 per cent (OMR3.3 million), and its operating expenses rose by 4.5 per cent (OMR10.2 million).
Announcing the first quarter results, Said Abdullah Al Hatmi, CEO of ahlibank, stated, "2023 started on a very positive note for ahlibank, with its new head office symbolising its strategic growth over the past decade and a half. This set the stage for successive milestones that bolstered our deposits and profits. The coming months promise to enhance this sustained growth with new products and services that will reaffirm our commitment to accelerating digitalisation, partnering with the government in its economic development plans, and empowering customers with exceptional banking experiences.”
As the coming months reveal exciting plans and offers, it is worth highlighting some of the Bank's recent accomplishments. Of particular significance is the comprehensive Systematic Investment Plan (SIP) for Private Banking and Wealth Management clients, designed to assist and support customers in achieving their long-term financial goals. Additionally, ahlibank launched A’maali, the SME Value Plus Account, catering to small and medium enterprises by offering financial solutions that enhance business potential and support new ventures.
Al Hatmi praised the bank's executive management and team members for their tireless efforts in shaping the fortunes of the bank and upholding its vision to be a dynamic and innovative centre of banking. "Our shared vision and values will ensure that we remain focused on customer service. We will now carve our niche as the most preferred bank for customers from all walks of life," he added.
As ahlibank forges ahead, it remains committed to providing outstanding banking experiences by continually adapting to the evolving needs of its customers. Its dedication to exceptional customer service, combined with its strong financial performance and innovative solutions, reinforces its reputation as a leading banking institution in the region. As the bank continues to break new ground and expand its offerings, it remains steadfast in its mission to create value for its stakeholders and contribute to the nation's economic development.
