Home News Business ahlibank logs 12.4m-rial profit in H1

ahlibank logs 12.4m-rial profit in H1

 Staff Reporter

MUSCAT

Ahli Bank posted a net profit of 12.4 million rials in the first half of the year. There was a 12.7 per cent fall in the net from 14.2 million rials recorded last year, according to a filing on the Muscat Securities Market.

The bank’s net loans and advances grew by 4.5 per cent to reach 1.62 million rials from 1.55 million rials. Customer deposits grew by 11.7 per cent to 1.38 million rials from 1.23 million rials.

Total assets were up by 4.5 per cent to 1.94 million rials from 1.86 million rials.

Operating income fell by 1.1 per cent to 25.8 million rials and operating expenses remained unchanged at 9.3 million rials.

Recently, the bank has joined a group of banks to finance Salalah LPG project. Conventional banks posted 3 per cent growth in credit disbursement as of April 2017. Total deposits registered a growth of 7.8 percent to 21.6 billion rials.