ahlibank achieves growth in the third quarter of 2024

Muscat: ahlibank recently reported its performance for the third quarter ending 30 September 2024, in which the Bank’s net profit increased by 5.3% reaching RO 30.83 million, in comparison to RO 29.29 million during the same period in 2023.

Key Performance Indicators for the third quarter ending September 30, 2024, reflected impressive growth, with total assets surging by 10.0%, reaching RO 3,468.8 million; an increase in customer deposits by 12.7%, to RO 2,672.1 million; the net loans, advances, and financing increased by 8.4%, to RO 2,892.2 million, compared to the same period in 2023. The Bank’s operating income showed strong growth of 5.4%, reaching RO 77.65 million for the nine-month period ended 30 September 2024 compared to RO 73.67 million during the same period in 2023.

Commenting on the impressive results of the third quarter of 2024, Said Abdullah Al Hatmi, CEO of ahlibank, said, “These positive achieved results strengthen ahlibank’s standing as a leading financial institution in the Sultanate of Oman, reinforcing our commitment to pursuing excellence. The Bank’s making steady progress with various achievements that actively contribute to realizing the goals outlined in Oman Vision 2040.”

“The Bank continues to successfully deliver advanced banking solutions that meets the evolving needs of our expanding customer base while setting new standards for excellence in the banking sector. This, in turn, strengthened the Bank’s commitment to continuous innovation to achieve its strategic goals and contributed to the advancement of the banking landscape within the Sultanate,” he added

Al Hatmi stressed that, in addition to the positive financial indicators, the achievements of ahlibank during the first nine months of 2024 included many aspects that support the Bank’s mission as a “Partner in Excellence”, and highlight its core values ​​of innovation, integrity, responsibility and sustainability.

Shedding the spotlight on this regard is ahli islamic having opened its latest branch in Al Khoudh 6 in the Wilayat of Seeb, with the aim of bringing Sharia-compliant banking products and services closer to its growing customer base.

Al Hatmi stated that ahlibank has been consistently recognized for its achievements. Recently it has received two prestigious awards at the Alam Al Iktisaad Awards 2024: “Excellence in Corporate Banking & Innovative Solutions” and “Best Performing Company – Large Cap.”

ahli islamic, received the “Excellence in Retail Islamic Banking” award for its cutting-edge Shariah-compliant products. Additionally, ahlibank added to its accolades the “Excellence in Digital Banking” award at the OER Live DX Awards Oman, organized by the Oman Economic Review (OER) magazine in recognition of its innovative contributions to the digital banking landscape.

Al Hatmi said that ahlibank has implemented many initiatives and programs aimed at serving the community as part of its Corporate Social Responsibility (CSR). CSR is deeply rooted in the Bank’s values ​​and identity. Moreover, the CEO stressed that ahlibank is moving forward in its journey as a responsible and socially conscious entity, one that is committed to serving the community and enabling positive and sustainable societal changes.

Said Al Hatmi concluded by emphasizing that the bank is making significant progress toward achieving even greater successes in the future. Supported by its holistic portfolio of digital products and services, ahlibank is forever keen to put the requirements of its customers and employees at the forefront of its operations, thereby adopting an innovative approach committed to service excellence. The Bank ensures customers an exceptional banking experience, and is constantly contributing to the development of society.