Monday 01 / July / 2024
Muscat: ahlibank has announced a 6.5 per cent growth in profit for the second quarter of 2021, a significant turnaround from the recorded numbers in the first quarter.
With market conditions gradually improving, the bank as well recorded 14.1 per cent growth in total assets amounting to OMR2,848.3 million, while its operating income increased by 8.7 per cent to OMR39.47 million as of the end of June 2021.
Customer deposits increased by 20.0 per cent to reach OMR1,968.1 million compared with the same period in 2020. Net loans, advances and financing grew by 6.5 per cent, reaching OMR2,286.8 million. The bank's operating expenses also increased by 7.6 per cent.
Said Abdullah Al Hatmi, CEO, ahlibank, remarks, “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.”
“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. As we carry on this resolute commitment to our customers and stakeholders and achieving a consistently high level of performance, we are confident that the Bank will remain on its present growth path,” he adds.
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 has been staunch in implementing the government’s and the Central Bank of Oman’s directives, proving itself a key supporter of the country's development efforts. It has remained focused on coming up with innovative products and services whilst boosting its technological capabilities and infrastructure to enhance its banking operations and ensure safety, reliability, and efficiency.
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 road map for the coming years. It continues to improve on its existing products and services while introducing new practical and convenient banking solutions to all segments of society.
Alongside this is its contribution to the upskilling of its local workforce to help fulfil the bank’s vision and play a greater role in the social and economic growth and development of the Sultanate.
“We have been actively spearheading corporate social responsibility initiatives not only in the community but in the bank as well, as we recently cooperated with the Ministry of Health to launch a full-fledged vaccination drive against COVID-19 for ahlibank employees and their families,” Al Hatmi further notes.
