Ah­libank posts RO12.4mn net profit for first half of 2017

Muscat Daily - - BUSINESS -

Ah­libank re­ported a net profit of RO12.4mn for the six months pe­riod ended June 30, 2017. This com­pared with a net profit of RO14.2mn in the same pe­riod of 2016.

Ah­libank’s net loans, ad­vances and fi­nanc­ing grew by 4.5 per cent to RO1.62bn as of June 30, 2017 from RO1.55bn a year ago. The growth in loan book and fi­nanc­ing was in line with the bank’s strate­gic plan to grow in a pru­dent way, the bank said in a press re­lease.

Its cus­tomer de­posits rose 11.7 per cent to RO1.38bn as of the end of June 2017 com­pared to RO1.23bn a year ago. Op­er­at­ing ex­penses [in­clud­ing loan and fi­nanc­ing im­pair­ment net of re­cov­er­ies] were con­trolled at RO9.3mn for the first half of 2017.

Ah­libank’s net profit for the sec­ond quar­ter of 2017 came at RO7.2mn as against RO5.2mn for first quar­ter of 2017, record­ing a quar­ter-on-quar­ter in­crease of 38.5 per cent.

Its op­er­at­ing in­come for the sec­ond quar­ter of this year at RO13.7mn was 13.2 per cent higher over the first quar­ter of 2017. Op­er­at­ing ex­penses were con­trolled at RO4.3mn com­pared to RO5mn in first quar­ter of 2017.

Con­tin­ued on

Newspapers in English

Newspapers from Oman

© PressReader. All rights reserved.