Ahlibank signals robust growth in Q1 of 2022
Ahlibank exhibited robust performance in the first quarter of 2022. The achievement comes as a result of its endeavor of being customer centric through strategic branch network expansion and product diversification plans and implementation.
Ahlibank’s total assets recorded a 12.2% growth, reaching RO3,166.6mn as of the end of March 2022. Customer deposits increased by 11.9%, reaching RO2,180.1mn, compared with the same period in 2021. Loans, advances and financing grew by 7.1%, reaching RO2,435.9mn. The Bank’s operating income rose by 13.7%, achieving RO22.3mn on as of the end of March 2022, and its operating expenses increased by 19.6%. Profits during the period, grew by 18.4% to reach RO7.52mn, a press release said.
Highlighting the performance and the bank’s roadmap for the coming months, Said Abdullah al Hatmi, CEO of Ahlibank, said, “The first three months of 2022 have been significant for ahlibank growth in terms of assets and deposits, as it continues its prudent growth strategy focusing on high quality assets and well managed liquidity. We have experienced a considerable increase in consumer engagements and usage of services offered on our online platforms since launching our digital channels and platforms, owing to favourable developments triggered by the steady global economic recovery and the essential shift and adoption of digitalisation. Our investment in digital technologies has helped deepen our market differentiation and has built and reinforced customer relationships across our business.”
Ahlibank’s persistent efforts to speed up the pace of banking transactions for corporate customers saw the enhancement of its e-channels, ahliNET which includes ahliB2B for businessto-business platform, and ahliRDC service for remote deposit capture.