Ahlibank’s total assets rose by 6 per cent to cross OMR2 billion for the first time, while loans and advances and financing for the period increased by 6.2 per cent to OMR1.65 billion. An indicator of the growing popularity of the bank, ahlibank’s customer deposits increased by a noteworthy 17.3 per cent to OMR1.45 billion.
Total equity increased accordingly by 5.7 per cent to OMR248 million. Operating income increased by 1.5 per cent to OMR40 million while operating expenses declined by 0.7 per cent to OMR14.2million. Net profit after tax stood at OMR19.8 million which was 5.7 per cent lower than 2016.
“We have seen steady growth during 2017, with the bank’s bottom line performance improving quarter over quarter, despite the economic challenges being faced,” said Hamdan Ali Nasser Al Hinai, Chairman of ahlibank.