Ahlibank sustains its Q2 profits; ends Q3 with robust growth

Ahlibank sustains its Q2 profits; ends Q3 with robust growth

Muscat: ahlibank continues to leverage its portfolio of innovative products, services, and digitalization initiatives to record unstinted growth in the third quarter of 2022. It has supplemented its first and second quarter results with impressive results in the third quarter.

With Oman’s outlook getting upgraded to stable and economic recovery gaining momentum with higher oil prices, ahlibank witnessed commensurate growth in its profits during the third quarter. It was able to achieve 18.8% growth in profit, amounting to RO 25.06 million, for the period ending September 2022, in comparison to the same period last year. Customer deposits increased by 9.2% to reach RO 2,228.4 million; Net loans, advances and financing grew by 7.3%, reaching RO 2,538.1 million.

Besides, the Bank's Operating income and expenses also increased to the tune of 13.0% (RO 67.93 million), and 20.1% (reaching RO 29.49 million), respectively, for the nine months period ending 30 September 2022.

Commenting on the Bank’s key performance indicators and the remarkable profit margin achieved during the course of the year, Said Abdullah Al Hatmi, CEO, of ahlibank, said, “Our third-quarter results succinctly demonstrate our commitment to pursue the business targets set for the year. We are reaching newer heights, and the coming months will