Ahlibank has experienced sustained growth across various businesses, enabling it to post strong results
Ahlibank has maintained its financial performance despite the recent macroeconomic challenges at the local and regional level. The financial results over the years prove that Ahlibank’s fundamentals are strong and it has the ability to deliver strong performance in a highly competitive market. The bank continued its positive growth, reflecting a 7.9 per cent increase in profit for the period as compared to 2017. Total operating income increased by 10.6 per cent to RO62.2mn as compared to RO56.2mn in 2017. Total equity increased to RO358.9mn compared to RO304.8mn to further support our business growth.
The bank has successfully issued Additional Tier 1 Capital of RO54mn on private placement basis in Q42018. While the bank’s operating expenses increased by 12.7 per cent to RO23.3mn compared to RO20.6mn in 2017, the cost to income ratio remains at 37.4 per cent one of the lowest amongst its peers. Total assets grew by 13.7 per cent to RO2,290.4mn, customer deposits increased by 14.5 per cent to reach RO1,661.6mn and total loans & advances and financing grew by 14.5 per cent to reach RO1,870.7mn. The bank’s balance sheet remained well capitalised and capital adequacy ratio of the bank stands at 17.5 per cent.
Retail and corporate lending
During the year ended 2018, the bank’s corporate lending has increased by 21 per cent to reach RO1,234mn, this growth amongst the best within the industry. The industry specific teams have a deep understanding of their respective local and regional market segments, to ensure the delivery of insightful relationship management with fast turnaround times, across various product spectrum.
Retail banking lending has increased to RO671mn in 2018. Ahlibank continues to focus on innovative products and services, both for its conventional and Islamic banking customers, in order to increase its foothold and market presence. In the year 2018, the bank has opened new branches as part of the strategic expansion in ahlibank’s branch network.
