Amwal Al Ghad English - 2013-07-25 10:17:09
Demonstrating continued strong and prudent growth, Ahlibank posted a net profit of RO 12.50 million for the six months ended June 30, 2013, which represents a 6 per cent rise over earnings of RO 11.80 million reported as of June 30, 2012. These results are a direct consequence of Ahlibank's business strategies and the adoption of a long-term view of business and its commitment to a sustainable business model in the interest of all its stakeholders, Ahlibank said in a press statement. The Bank continues to grow in a prudent way and has established robust risk management policies and procedures enabling it to remain focused on quality of its assets without affecting its ability to expand its business objectives, it added.
Highlighting Ahlibank's key achievements and developments in the first half of 2013, Hamdan bin Ali al Hinai, Chairman of Ahlibank said, "Ahlibank has evolved year over year in a measured and controlled manner, based on investing in its human, technical and product capitals. This approach has yielded excellent dividends. The Bank's business and financial model promotes to maintain and leverage established relationships; developing new ones with a sustainable revenue generation capacity and at the same time ensuring very high credit quality and service standards." The Bank's customer deposits have grown by 20 per cent in line with the strategy to build a stable low cost deposit base. Loan growth of over 17 per cent has been established with a prudent risk management approach and in a diversified manner. Total assets as of 30th June 2013 stood at 1,297 million showing an increase of 23 per cent as compared to the same period in the previous year. More»