Ahli Bank approves BoD’s report for financial year 2019 – Times of Oman

Ahli Bank approves BoD’s report for financial year 2019 – Times of Oman

Muscat: Ahli Bank held its Extraordinary General Meeting and Annual Ordinary General Meeting on June 3, via the electronic platform for general meetings on Muscat Clearing and Depository's website (www.mcd.gov.om) and elected its new Board of Directors.. The Annual Ordinary General Meeting (AGM) approved the Board of Director's report for the financial year ended December 31, 2019, balance sheet and the profit and loss account for the financial year, cash dividend distribution to the shareholders of an amount of 10 baisas per share in addition to approval of bonus shares of 5 per cent of the share capital (5 shares per 100 shares) to the shareholders as on March 29, 2020, resulting in an increase of the share capital of the bank from 1,571,102,349 shares to 1,649,657,466 shares.. Commenting on the meeting, Al Hinai said, "Ahli Bank has continued its strong performance with its net profit rising by 7.7 per cent to OMR31.01 million as on December 31, 2019, compared to OMR28.79 million in December 2018, maintaining its steady pace of growth in profits..