Ahlibank said its net profit soared by 19 per cent to OMR21.7 million for 2012 from OMR18.2 million reported for the previous year. Commenting on the bank's performance, Hamdan Ali Nasser Al Hinai Chairman of ahlibank said: "These financial results reflect a positive and strong operational performance and demonstrate the strength and resilience of ahlibank. We have taken a more conservative approach to strengthen the Bank's position to meet the challenges reflected in the broader global financial markets and ahlibank is on course to realise its vision to be one of the leading banks in the Sultanate."
The bank's customer deposits have grown by 10 per cent in line with its strategy to build a stable low cost deposit base, said a bank release. Loan growth of 21 per cent has been established with a prudent risk management approach and a diversified sectoral basis. The loan book continues to be of a very high quality as reflected in the non-performing loan (NPL) ratio of 1.1 per cent in 2012.
Times of Oman | ahlibank’s net profit soars 19 per cent
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