Ahli Bank registers net profit growth of 5.2% in Q3

Muscat: Ahli Bank, the fastest growing bank in the Sultanate, has announced its unaudited financial results for the third quarter ended 30 September 2019. The bank maintained its pace of growth in profits, achieving a net profit of 5.2% to reach OMR 22.79 million compared to OMR 21.66 million for the same period in 2018.
The bank's operating income increased by 13.5% to reach OMR 51.63 million, compared to OMR45.49 million for the same period last year, despite the increase in operating expenses, which amounted to OMR 20.31 million, compared to the operating expenses recorded for the same period of 2018, amounting to OMR 17.38 million.
The customer deposits increased by 3.5% to reach OMR 1,622.8 million, compared to the same period last year, and total shareholders' equity increased to OMR 383.1 million, compared to OMR 303.5 million at the end of September 2018. Total loans and financing increased by 10.2% to OMR 2,060.9 million.
Said Abdullah Al Hatmi - CEO, Ahli Bank said, “The bank has been able to continue its 11 years journey in the Sultanate, achieving sustained growth in key financial areas, with an 11.8% increase in its total assets to a total value of OMR 2,517.7 million.”
The CEO stressed the bank's efforts to maintain steady growth and the proactive customer-oriented initiatives. The bank will continue to expand its branch network for both Ahli Bank and Ahli Islamic throughout the Sultanate, to cope with the changing requirements of the customers.