Muscat, Oman– Ahlibank has reported an 18.8 percent year-on-year growth in profit for the nine month period ending September to RO25 million ($65 million).
Customer deposits increased by 9.2 percent to reach RO 2.228 billion. Net loans, advances and financing grew by 7.3 percent, reaching RO 2.538 billion.
Besides, the bank’s operating income and expenses also increased to the tune of 13 percent (RO 67.93 million), and 20.1 percent (reaching RO 29.49 million), respectively, for the nine months period ending 30 September 2022.
The CEO of Ahlibank, Said Abdullah Al Hatmi, said, “Our performance has been consistent over the last three quarters, and our growing customer base is a clear indication of our long-term plan to further enhance our connection with the society from different parts of the country, and achieve financial inclusion.”
In the third quarter, the bank concluded its issuance of 75 million Additional Tier 1 Capital Instruments.