MUSCAT: For the second consecutive year, ahlibank has been ranked the 'number one bank in Oman' for the year 2012. The ranking was awarded after the recent survey done by Business Magazine and Gulf Baader Capital Markets, due to ahlibank's consistent performance, soundness of strategy and commitment to strive ahead as key elements behind its success.
ahlibank being awarded the honour of being the number one bank in the Sultanate for the second year in a row signifies the bank's continued efforts to deliver quality service and products, enhance shareholder value and being the institution of choice for customers, employees and investors among others.
Commenting on the award, Abdul Aziz Al Balushi, chief executive, ahlibank 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."
This accolade is a direct consequence of ahlibank's strong financial performance and its adoption of long-term prudent business strategies. The bank has also established formidable risk management policies and procedures enabling it to remain focused on its asset quality and at the same time continually improving its customers' services and efficiency: key reasons that propelled ahlibank to the top of the list.
The bank' net profit for the first quarter of 2013 increased by 5 per cent to OMR6.21 million. The total assets as of March 31, 2013 touched OMR1,225 million, representing a growth of 23 per cent. The bank's customer deposits have grown by 18 per cent in line with its strategy to build a stable low cost deposit base. Net operating income has increased by 5 per cent to OMR11.79 million.
The year 2013 also marks the launch of the banks Islamic banking window with five 'Al hilal Islamic Banking services' branches being opened simultaneously in Samail, Rustaq, Muscat, Bahla , Barka with the sixth branch coming 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 un matched services and products to cover a wider geographical area.
"On behalf of the bank, I would like to thank our valuable customers for their patronage and confidence in the bank, our employees for their dedication and commitment to reach higher levels of excellence, our strategic partner Ahli United Bank for their support and guidance throughout the last five years."
© Times of Oman 2013
