banking

ahlibank reports robust growth in first quarter of 2022

May 18, 2022

Muscat: ahlibank exhibited robust performance in the first quarter of 2022. The achievement comes as a result of its endeavour of being customer centric through strategic branch network expansion and product diversification plans and implementation.

ahlibank’s total assets recorded a 12.2 per cent growth, reaching OMR3,166.6 million as of the end of March 2022. Customer deposits increased by 11.9 per cent, reaching OMR2,180.1 million, compared with the same period in 2021.

Loans, advances and financing grew by 7.1 per cent, reaching OMR2,435.9 million. The bank’s operating income rose by 13.7 per cent, achieving OMR 22.3 million as of the end of March 2022, and its operating expenses increased by 19.6 per cent. Profits during the period, grew by 18.4 per cent to reach OMR7.52 million.

Highlighting the performance and the bank’s roadmap for the coming months, Said Abdullah Al Hatmi, CEO of ahlibank said, “The first three months of 2022 have been significant for ahlibank growth in terms of assets and deposits, as it continues its prudent growth strategy focusing on high-quality assets and well-managed liquidity. We have experienced a considerable increase in consumer engagements and usage of services offered on our online platforms since launching our digital channels and platforms, owing to favourable developments triggered by the steady global economic recovery and the essential shift and adoption of digitalisation. Our investment in digital technologies has helped deepen our market differentiation and has built and reinforced customer relationships across our business.”

ahlibank’s persistent efforts to speed up the pace of banking transactions for corporate customers saw the enhancement of its e-channels, ahliNET which includes ahliB2B for the business-to-business platform and ahliRDC service for remote deposit capture.

In line with its efforts to continuously improve the quality of its customer service, ahlibank launched its ‘Outstanding Customer Service’ programme in March, aimed at enhancing the bank’s customer service and deepening its customer relationships through appropriate communication tools and techniques to effectively and efficiently fulfil their requirements.

ahlibank’s inclusive development is reflected in its operating performance, its increased competitiveness and strengthened position in the market alongside the expansion of its branch network across the Sultanate. As it continues to move forward with its growth objectives, ahlibank is committed to playing a greater role in the advancement of the banking sector and the economic and social development of Oman as a whole.

timesofoman

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