ahlibank reports 10.1% growth in net profit

ahlibank reports 10.1% growth in net profit

Muscat: Corroborating its current market standing and competitiveness, ahlibank has reported a 10. 1 per cent growth in net profit in its preliminary unaudited financial results for the nine months ending 30 September 2021. This growth demonstrates its financial and operational resilience and notable overall performance, despite the global economic recession. The bank was able to achieve an impressive 18. 2 per cent growth in total assets, amounting to OMR3, 065. 2 million. While its operating income increased by 11. 9 per cent, reaching OMR60. 14 million as of the end of September 2021; its operating expenses increased by 9. 4 per cent. Customer deposits increased by 15 per cent, reaching OMR2, 041. 2 million, compared with the same period in 2020. Net loans, advances and financing grew by 9. 5 per cent, reaching OMR2, 365 million. Said Abdullah Al Hatmi, CEO, ahlibank, remarked, "Being resilient, despite the ever-changing financial and economic landscape, has allowed us to strengthen our core banking services and products, while continuously serving our customers and clients by responding to their needs more swiftly and effectively. It has also been a key factor in facilitating the sustainability of our operational activities for further growth." "To maintain