Muscat, Oman — ahlibank of Oman has reported a profit of 8.4 million RO ($21.84 million) in the first quarter of 2023, an 11.1 percent increase over the same period in 2022.
The customer deposits grew by 7.3 percent, reaching RO 2.33 billion during the first quarter, compared to the same period in 2022.
Loans, advances, and financing expanded by 5.6 percent to RO 2.57 billion, while the bank’s operating income increased by 4.6 percent (RO 23.3 million) and its operating expenses rose by 4.5 percent (RO 10.2 million).
ahlibank marked the first quarter of 2023 on a high note, powered by an extensive network of branches and a selection of innovative products and services and showcasing its strategic growth in the country as one of the most favored banks.
Said Abdullah Al Hatmi, CEO of ahlibank, said, “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.”