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Ahlibank records robust growth in Q1

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

Ahlibank’s total assets recorded a 12.2% growth, reaching RO 3,166.6 million as of the end of March 2022. Customer deposits increased by 11.9%, reaching RO 2,180.1 million, compared with the same period in 2021. Loans, advances and financing grew by 7.1%, reaching RO 2,435.9 million. The bank’s operating income rose by 13.7%, achieving RO 22.3 million as of the end of March 2022, and its operating expenses increased by 19.6%. Profits during the period, grew by 18.4% to reach RO 7.52 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 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’ program in March, aimed at enhancing the Bank’s customer service and deepening its customer relationships through appropriate communication tools and techniques in order to effectively and efficiently fulfil their requirements.

As testimony to its commitment to continuously serve its customers, ahlibank was recognised as the ‘Best Omani Brand’ in the banking category at the recently concluded Alam Al-Iktisaad Awards. It has also earned deserving recognition for its youth-oriented initiatives, winning the prestigious ‘Leadership in Youth Empowerment’ award for its initiatives directed at youth development.

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 play a greater role in the advancement of the banking sector and in the economic and social development of Oman as a whole.

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