Muscat: ahlibank announced the unaudited financial results for the six months ending 30 June 2024, wherein the Bank achieved a Net Profit of RO 20.20 million, compared to the Net Profit of RO 19.91 million for the same period in the year 2023, marking an increase by 1.5%.
ahlibank’s total assets recorded an 8.1% growth, reaching RO 3.4 billion as of 30 June 2024, compared to 30 June 2023. Customer deposits increased by 8.3%, reaching RO 2.6 billion, while net loans and financing grew by 5.3%, reaching RO 2.8 billion compared to the same period in 2023. The Bank’s operating income rose by 3.2%, reaching RO 50.63 million as of the end of June 2024.
Commenting on the first half results, Said Abdullah Al Hatmi, CEO of ahlibank, stated, “The financial results ahlibank achieved in the first half of 2024 reflect its forward-thinking approach alongside its ambitious digital transformation strategy. It also highlights the Bank’s diligent efforts, wealth of experience, and excellence in the banking sector, all of which is supported by its comprehensive portfolio of exceptional banking products and services.”
“ahlibank’s financial results in the first half of the year attest to its embarking on a continuous growth journey, reaffirming its leading position in the Sultanate of Oman’s banking sector. The financial indicators also showcase the Bank’s eagerness to fulfill its obligations towards its shareholders, as ahlibank strives to increase added value, and operate with utmost integrity in order to ensure customer satisfaction. Due to this strategic approach, we were able to establish a resilient ethos and set new standards for excellence and continued success. In this regard, ahlibank has received many prestigious awards in recognition of its work ethic and efficiency as a distinguished leading banking institution in the Sultanate, one that plays a prominent role as the preferred “Partner in Excellence,” Al Hatmi added.
Al Hatmi further stated, “ahlibank received recognition for its exceptional performance and innovative approach, attaining the Corporate Bank of the Year Award at the MENA Banking Excellence Awards 2024. The Bank also won three distinguished awards at the ninth edition of the New Age Banking Summit 2024 – the ‘Excellence in Private Banking’ award, ‘Excellence in Corporate Banking’ award, and ‘Excellence in Digital Transformation’ award.”
Al Hatmi also stated that the first half of the year witnessed the successful completion of ahlibank’s Additional Tier 1 Capital Instruments (AT1 Bonds) issue aggregating RO 40 million, through private placement. The subscription received wide acceptance and great demand from local and foreign investors and government bodies underscoring the widespread popularity of ahlibank’s financial instruments.
Al Hatmi reaffirmed that, in addition to ahlibank’s achievements during the first half of the year, the Bank plays an active role supporting Corporate Social Responsibility initiatives. In keeping with the same, ahlibank, represented by the “ahli cares” team, conducted a visit to the Social Welfare Home for the elderly in Al Rustaq, partaking in a day of community service and engagement with the residents of the home. The team delivered essential care items, supplying basic necessities and medical equipment that would enhance the home’s services and overall quality of life.
Said Abdullah Al Hatmi, CEO of ahlibank, concluded his statement by emphasizing that the Bank is steadfast in pursuing a promising path that will ensure it remains at the forefront of the banking sector, thereby contributing to the furthering of the Sultanate’s socio-economic growth.
