03 July 2011
Ahlibank, which started the year 2011 with a thumping endorsement of its performance by winning the Corporate Governance Award for the year 2010 by CMA, has now earned another distinction by winning the No 1 position in the best performing companies of the year 2010. The ranking was awarded after the recent survey done by the leading Arabic Magazine Alam al-Iktisaad Wal A'mal (AIWA). ahlibank received the award at a glittering ceremony held at the Shangri La Hotel on 27th of June under the patronage of His Excellency Dr.Rasheed Bin Al Safi Al Huraibi, Chairman of the Tender Board, Sultanate of Oman.
Ahlibank was selected as "No 1 Best Performing Co" based on their performance on the five key financial parameters including Revenue Growth, Net Profit Growth, Return on Average Assets, Return on Average Equity and Net Profit Margin.
The Bank net profit for the year 2010 increased by 65% to RO 14.1 Million. The total assets at the end of year 2010 reached 806 million rials representing a growth of 31%. The loan & Advances grew by 48% from 444 million rials in 2009 to 656 million rials in 2010. The Capital Adequacy Ratio (CAR) as on 31st December 2010 is 19.67 %, well above the CBO requirement of 12%. During 2010, ahlibank successfully completed a subordinated bond issue of R.O 35 million which was oversubscribed.
"We are proud to receive this recognition. As one of the Sultanate's leading bank, we are committed to creating a distinctive customer experience that relies on its products, services and overall customer service. We are aware that each recognition brings with it the additional responsibility of continuing to better ourselves. I would like to assure you that we are firm in our resolve to continue to do so in the days ahead." commented Mr. Abdulaziz Al Balushi, CEO.
-Ends-
Ahlibank, which started the year 2011 with a thumping endorsement of its performance by winning the Corporate Governance Award for the year 2010 by CMA, has now earned another distinction by winning the No 1 position in the best performing companies of the year 2010. The ranking was awarded after the recent survey done by the leading Arabic Magazine Alam al-Iktisaad Wal A'mal (AIWA). ahlibank received the award at a glittering ceremony held at the Shangri La Hotel on 27th of June under the patronage of His Excellency Dr.Rasheed Bin Al Safi Al Huraibi, Chairman of the Tender Board, Sultanate of Oman.
Ahlibank was selected as "No 1 Best Performing Co" based on their performance on the five key financial parameters including Revenue Growth, Net Profit Growth, Return on Average Assets, Return on Average Equity and Net Profit Margin.
The Bank net profit for the year 2010 increased by 65% to RO 14.1 Million. The total assets at the end of year 2010 reached 806 million rials representing a growth of 31%. The loan & Advances grew by 48% from 444 million rials in 2009 to 656 million rials in 2010. The Capital Adequacy Ratio (CAR) as on 31st December 2010 is 19.67 %, well above the CBO requirement of 12%. During 2010, ahlibank successfully completed a subordinated bond issue of R.O 35 million which was oversubscribed.
"We are proud to receive this recognition. As one of the Sultanate's leading bank, we are committed to creating a distinctive customer experience that relies on its products, services and overall customer service. We are aware that each recognition brings with it the additional responsibility of continuing to better ourselves. I would like to assure you that we are firm in our resolve to continue to do so in the days ahead." commented Mr. Abdulaziz Al Balushi, CEO.
The year 2011 also marks as banks third anniversary and in a short span of three years ahlibank has received recognition from the local and regional media and investment houses as a fast-growing and profitable bank built on a stable foundation. ahlibank is founded on the sound principles of Corporate Governance which include the highest levels of ethical standards, professional integrity, regulatory compliance and best international practices to achieve its objectives with the involvement of all stakeholders
"I thank Alam al-Iktisaad Wal A'mal (AIWA) for this award which makes all of us in ahlibank feel very proud. I also thank all the ahlibankers for their commitment to uphold bank's customer-centric values and in supporting the Bank's mission to provide our customers products and services of enduring values, our valued shareholders for their continued support, and the Central Bank of Oman, and Capital Market Authority for their guidance." Added the CEO.-Ends-
© Press Release 2011
