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