Ahlibank reports 18.6% growth in profit in first half of 2022

Ahlibank reports 18.6% growth in profit in first half of 2022

Muscat - ahlibank has augmented its successful first quarter financial performance with an impressive net profit of OMR15.8 million in the half year, recording an increase of 18.6 per cent over the same period in 2021.

While the operating environment is gradually returning to pre-pandemic levels, Oman’s banking industry also reported positive growth. ahlibank also substantiated its strong growth trajectory with stable key performance indicators.

It recorded 7.0 per cent growth in total assets - amounting to OMR3,046.3 million as of 30 June 2022, compared to the same period last year. Its operating income rose by 13.3 per cent to reach OMR44.72 million, and operating expenses increased by 17.3 per cent to reach OMR19.32 million. While its customer deposits increased by 12.4 per cent to reach OMR2,212.2 million, its net loans, advances, and financing witnessed a 9.1 per cent growth, amounting to OMR2,494.2 million for the period ending June 2022, over the corresponding period in 2021.

Attributing the bank’s growth to its steady focus on top-quality assets and effectively managed liquidity, Said Abdullah Al Hatmi, CEO, ahlibank, said, “Our strength lies in our core competencies. We have, time and again, delivered what we promised and have maintained a consistent customer-centric approach to business.