News Column

Ahli Bank of Oman reports H1 profits up five per cent at OMR 13.1 million

July 24, 2014

Ahli Bank saw profits rise from OMR 12.5 million in H1 2013 to OMR 13.1 million in H1 2014. Over the same period operating income rose four per cent to OMR 25.3 million.

The bank's customer deposits have grown by eight per cent to OMR 996 million while Ahli Bank said, in a statement to the Muscat Securities Market, that loan growth of over 20 per cent 'has been established with a prudent risk management approach and in a diversified manner'. Loans, advances and financing rose to OMR 1.25 billion. As of 30 June 2014, Ahli Bank's NPL ration was one per cent.

Operating expenses were controlled at OMR 8.2 million resulting in a lower cost to income ratio of 32.3 per cent.

Total assets rose 17 per cent to OMR 1.517 billion.

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Source: CPI Financial

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