Muscat: ahlibank has announced its financial results for the year-ending December 31, 2021. At the back of the Bank’s resilience, fortitude and operational excellence, the Bank has reported overall growth in its key financial indicators, wherein its total assets grew by 13.0 per cent, reaching RO3.05 billion, compared to RO2.70 billion in 2020. Customer deposits went up by 13.3 per cent to reach RO2.18 billion, compared to RO1.92 billion the previous year. Likewise, net loans, advances and financing grew by 8.3 per cent, reaching RO2.40 billion.

Moreover, the Bank’s operating income increased by 15.2 per cent, reaching RO82.4 million in 2021 and the net profit for the period increased by 15 per cent, reaching RO 27.6 million. These achievements and continued growth, showcase the Bank’s consistent rollout of innovative products, services and offerings that are oriented toward enhancing customer satisfaction. ahlibank’s strategic roadmap encompasses a robust digital transformation strategy and an expansion plan that entails ramping up its on-ground presence and overall infrastructure. The Bank is powered by its rich human capital with high qualifications and extensive experience in the sector. This has enabled it to further enhance its customer excellence and optimize on emerging opportunities in order to increase its contribution in supporting the national economy’s future progress.

Said Abdullah Al Hatmi, CEO, ahlibank, remarks, “We have had commendable growth in 2021 despite economic challenges and an unpredicted change in the financial and banking landscape. This is the result of the introduction of various bespoke products and services for the conventional and Islamic banking segments apart from the enhancement and strengthening of our existing portfolio and the boosting of our operational processes, systems and digital infrastructure.”

“Our commitment to deliver efficient and professional customer service has earned us rightful recognition and commendation from the industry, which resulted in ahlibank receiving prestigious awards such as the ‘Excellence in Private Banking’ Award and the ‘Excellence in Islamic Retail Banking’ Award. The Bank also received the JP Morgan Chase ‘2021 Elite Quality Recognition’ Award for maintaining an outstanding 99.9 per cent modification-free rate for the bank’s remittance in US dollars,” Al Hatmi added.