Muscat - For the second consecutive year, Ahlibank has been ranked the "No 1 Bank in Oman" in a recent survey by Gulf Baader Capital Markets (GBCM).
According to a press release, the award signifies the bank's continued efforts to deliver quality services and products, enhance shareholder value, being the institution of choice for customers, employees and investors.
Commenting on the award, chief executive AbdulAziz al Balushi said, "We are proud to receive this recognition. As an Omani bank, ensuring the highest levels of quality in everything, be it the products we offer, the services we provide or the processes and procedures that we follow, is of the greatest importance to Ahlibank. Having won this prestigious award for the second year is undoubtedly a testimony to this and the unwavering commitment of our people to the high standards we believe in."
The bank net profit for 2012 increased 19 per cent to RO21.7mn. Total assets at the end of 2011 reached RO930mn, representing a growth of 15 per cent. The bank's customer deposits have grown ten per cent in line with its strategy to build a stable, low-cost deposit base.
This year, the bank launched its Islamic banking window with five 'Al Hilal Islamic Banking Services' branches being opened simultaneously in Samail, Rustaq, Muscat, Bahla, and Barka and the sixth branch coming up soon in Salalah. The simultaneous launch of five branches has positioned the bank's Islamic banking services as a leader in the field of Islamic banking with plans set to further enhance the reach of its unmatched services and products to cover a wider geographical area.
"We would also like to thank the Central Bank of Oman and Capital Market Authority for their support and valuable guidance. The foresight and market friendly policies adopted by His Majesty the Sultan's government have helped the bank to record encouraging results and achieve the best bank accolade for the last two years in a row," added Balushi.
© Muscat Daily 2013
