{"id":10089,"date":"2021-05-17T13:09:31","date_gmt":"2021-05-17T09:09:31","guid":{"rendered":"https:\/\/ahlibank.om\/?p=10089"},"modified":"2021-05-17T13:09:31","modified_gmt":"2021-05-17T09:09:31","slug":"ahlibank-records-outstanding-performance-in-2021-first-quarter","status":"publish","type":"post","link":"https:\/\/ahlibank.om\/ahlibank\/2021\/05\/17\/ahlibank-records-outstanding-performance-in-2021-first-quarter\/","title":{"rendered":"Ahlibank records outstanding performance in 2021 first quarter"},"content":{"rendered":"

Muscat- \u200b<\/strong>Amid current economic conditions brought about by the effects of the coronavirus pandemic, ahlibank has achieved impressive results in the first quarter of 2021. This achievement comes on the heels of the successful implementation of a series of customer-centric initiatives aimed at sustaining the Bank’s growth, which has been on a consistent growth trajectory over the years.<\/p>\n

ahlibank’s total assets recorded a 12.1% growth, reaching RO 2,821.3 million as of end of March 2021. Customer deposits increased by 13.2%, reaching RO 1,947.8 million, compared with the same period in 2020. Loans, advances and financing grew by 7.0%, reaching RO 2,274.2 million. The Bank’s operating income rose by 4.0%, achieving RO 19.62 million as of the end of March 2021; while its operating expenses decreased by 1.6%. Profits during the period; however, fell by 9.4%, mainly on account of higher impairment on financial assets in Q1 2021 compared with the same period in 2020 which increased by 67.4% due to the current economic conditions.<\/p>\n

Said Abdullah Al Hatmi, CEO, ahlibank remarks,<\/strong> “ahlibank is proud of its successes and achievements of the last three months, as it has been slowly but steadily fortifying its position in the Oman banking sector. We believe that our real success is reflected in our ability to continue to adhere to sustainable business practices, and balance growth with moral and social responsibilities, in addition to the continuous expansion of the Bank’s branch network.”<\/p>\n

“The Bank’s strategic approach to digitizing its systems and processes and leveraging our technological capabilities in order to adapt to the “new” way of doing business has also contributed to this success. We look forward to seeing this growth continue in its robust path,” he adds.<\/strong><\/p>\n

Over the last three months, ahlibank has expanded its portfolio of products and banking services, successfully launching the Imtiyaz account, which offers enhanced banking services and specially curated packages designed to suit contemporary lifestyles. The Wafra and Qitaf prize schemes were also launched and are expected to contribute further to the Bank’s growth. The Bank has also made significant progress in building its retail and corporate business lines through the funding of small and large-scale projects.<\/p>\n

ahlibank has been on a stable growth path and its exceptional financial performance to date is an indicator that it has been able to turn the current crisis into an opportunity in terms of asset growth, customer deposits and other key financial indicators. It will continue its bold but prudent growth strategy with particular focus on high-quality assets and well-managed liquidity.<\/p>\n

The Bank remains committed to community in which it operates, especially during these times, as it continues to support the Ministry of Health and the Supreme Committee in the nation’s battle against the pandemic while ramping up efforts to develop the potentials of young Omanis and providing them a platform for accelerated growth.<\/p>\n

As it carries on with strengthening its commitment towards its clients and customers, it remains centered on positively contributing to the socio-economic development and growth of the Oman banking and financial sector while implementing strategies and plans that are aligned with the government’s vision.  \u200b<\/p>\n","protected":false},"excerpt":{"rendered":"

Muscat-\u00a0\u200bAmid current economic conditions brought about by the effects of the coronavirus pandemic, ahlibank has achieved impressive results in the first quarter of 2021. This achievement comes on the heels of the successful implementation of a series of customer-centric initiatives aimed at sustaining the Bank’s growth, which has been on a consistent growth trajectory over the years.<\/p>\n","protected":false},"author":1,"featured_media":10215,"comment_status":"close","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-10089","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\r\nAhlibank records outstanding performance in 2021 first quarter - Ahlibank<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/ahlibank.om\/ahlibank\/2021\/05\/17\/ahlibank-records-outstanding-performance-in-2021-first-quarter\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Ahlibank records outstanding performance in 2021 first quarter - Ahlibank\" \/>\r\n<meta property=\"og:description\" content=\"Muscat-\u00a0\u200bAmid current economic conditions brought about by the effects of the coronavirus pandemic, ahlibank has achieved impressive results in the first quarter of 2021. 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