Tuesday 22 / April / 2025
Muscat: ahlibank has announced its financial results for the year ending December 31, 2021.
At the back of the bank’s resilience, fortitude and operational excellence, the bank has reported overall growth in its key financial indicators, wherein its total assets grew by 13.0 per cent, reaching OMR3.05 billion, compared to OMR 2.70 billion in 2020. Customer deposits went up by 13.3 per cent to reach OMR 2.18 billion, compared to OMR 1.92 billion the previous year. Likewise, net loans, advances and financing grew by 8.3 per cent, reaching OMR 2.40 billion.
Moreover, the bank’s operating income increased by 15.2 per cent, reaching OMR 82.4 million in 2021 and the net profit for the period increased by 15 per cent, reaching OMR27.6 million. These achievements and continued growth showcase the bank’s consistent rollout of innovative products, services and offerings that are oriented toward enhancing customer satisfaction. ahlibank’s strategic roadmap encompasses a robust digital transformation strategy and an expansion plan that entails ramping up its on-ground presence and overall infrastructure. The bank is powered by its rich human capital with high qualifications and extensive experience in the sector. This has enabled it to further enhance its customer excellence and optimise emerging opportunities to increase its contribution in supporting the national economy's future progress.
Said Abdullah Al Hatmi, CEO, ahlibank, remarks, “We have had commendable growth in 2021 despite economic challenges and an unpredicted change in the financial and banking landscape. This is the result of the introduction of various bespoke products and services for the conventional and Islamic banking segments apart from the enhancement and strengthening of our existing portfolio and the boosting of our operational processes, systems and digital infrastructure.”
“Our commitment to deliver efficient and professional customer service has earned us rightful recognition and commendation from the industry, which resulted in ahlibank receiving prestigious awards such as the ‘Excellence in Private Banking’ Award and the ‘Excellence in Islamic Retail Banking’ Award. The Bank also received the JP Morgan Chase ‘2021 Elite Quality Recognition’ Award for maintaining an outstanding 99.9 per cent modification-free rate for the bank’s remittance in US dollars,” Al Hatmi added.
In its bid to offer more customer service access points and expand its reach to the wider banking community, the bank has opened six new branches during the year, three of which are for ahlibank and three for Ahli Islamic, distributed in different governorates in Oman.
ahlibank’s CSR commitment has also led to the deepening of its involvement in community and national projects and initiatives. Of particular significance is its participation in the National COVID-19 Vaccination Campaign and in the relief program to support people and communities affected by cyclone ‘Shaheen’.
The bank is keen to support Oman Vision 2040's objectives through implementing the Nationalisation strategy and has achieved a 94.34% of Omanisation across its different divisions, effectively contributing to the joint efforts of the government in empowering the national workforce. To build competencies of individuals and prepare them to meet the requirements of the work environment, ahlibank provides learning and skill enhancement opportunities for existing employees, through its development programs. The bank has also welcomed the 7th batch of its flagship program ‘Himam’ as well as the 5th batch of its leadership and training Business Graduate programme aiming at building a robust pipeline of future leaders in the banking sector.
ahlibank continues implementing its medium- and long-term prospects and plan, emphasising its key objective of maintaining its steady growth, which is further supported by its ambitious project of expanding its headquarters and promoting it as a smart and innovative hub. With its outstanding achievements and a proven track record of consistent growth, the bank is on its way to becoming the leading banking institution in Oman.
