ahlibank marked the first quarter of 2023 on a high note, powered by an extensive network of branches and a selection of innovative products & services and showcasing its strategic growth in the country as one of the most favored banks.

ahlibank built upon its robust 2022 growth phase by reinforcing its operations with the inauguration of a new headquarters and signaling its intent to strengthen its 15-year presence in the market with equally impressive first quarter results for 2023.

According to financial indicators, ahlibank’s customer deposits grew by 7.3%, reaching RO 2,339.7 million during the first quarter, compared to the same period in 2022. Loans, advances, and financing expanded by 5.6%, amounting to RO 2,571.7 million. The Bank’s operating income increased by 4.6% (RO 23.3 million), and its operating expenses rose by 4.5% (RO 10.2 million). In line with its overall performance, profit during the period reached RO 8.4 million increasing by 11.1%, in the first quarter of 2023 compared to the same period in 2022.

Announcing the first quarter results, Said Abdullah Al Hatmi, CEO of ahlibank, stated, “2023 started on a very positive note for ahlibank, with its new head office symbolizing its strategic growth over the past decade and a half. This set the stage for successive milestones that bolstered our deposits and profits. The coming months promise to enhance this sustained growth with new products and services that will reaffirm our commitment to accelerating digitalization, partnering with the government in its economic development plans, and empowering customers with exceptional banking experiences.” 

As the coming months reveal exciting plans and offers, it is worth highlighting some of the Bank’s recent accomplishments. Of particular significance is the comprehensive Systematic Investment Plan (SIP) for Private Banking and Wealth Management clients, designed to assist and support customers in achieving their long-term financial goals. Additionally, ahlibank launched A’maali, the SME Value Plus Account, catering to small and medium enterprises by offering financial solutions that enhance business potential and support new ventures.

Al Hatmi praised the Bank’s executive management and team members for their tireless efforts in shaping the fortunes of the Bank and upholding its vision to be a dynamic and innovative center of banking. “Our shared vision and values will ensure that we remain focused on customer service. We will now carve our niche as the most preferred bank for customers from all walks of life,” he added.

As ahlibank forges ahead, it remains committed to providing outstanding banking experiences by continually adapting to the evolving needs of its customers. Its dedication to exceptional customer service, combined with its strong financial performance and innovative solutions, reinforces its reputation as a leading banking institution in the region. As the Bank continues to break new ground and expand its offerings, it remains steadfast in its mission to create value for its stakeholders and contribute to the nation’s economic development.