ahlibank reports 6.5% growth in profit for second quarter

ahlibank reports 6.5% growth in profit for second quarter

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