News Column

AhliBank BoD Approves Cash and Stock Dividend

January 22, 2014

Muscat , Jan 21 (ONA) --- AhliBank net profits increase by 6% in 2013 and grew from RO 21.7 million in 2012 to RO 23 million in 2013, reflecting the growth of the bank core businesses. A statement by Ahlibank, which was published on MSM website, said that the bank BoD approved 7.5% cash dividend and 2.5% stock dividend.Operating income has increased by 11% to RO 46.6 million compared to 42.0 million in 2012.The bank pointed out that the total assets at the end of 2013 amounted to RO1,339 million, a growth by 22% compared to RO1,099 million in 2012. The Total Loans and advances grew by 19 % from RO 927 million by the end of December 2012 to RO 1,105 million in December 2013.In line with our strategy to build a stable low cost deposit base, the Bank's customer deposits have grown by 29% from RO 738 million by the end of December 2012 to RO 955 million by the end of December 2013 . The loan book continues to be of a very high quality as reflected in the Non-Performing Loan (NPL) ratio of 0.97% in 2013.It is worth mentioning that the financial statements are subject to the approval of the Central Bank of Oman and shareholders. ----Ends/MS/FS

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Source: Oman News Agency

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