21 March 2011
MUSCAT: ahlibank held its annual general meeting (AGM) at the Crowne Plaza hotel yesterday, presided over by the chairman Khalid Hamad Hamood Al Busaidi.
With the bank's earnings per share (EPS) for 2010 rising to 19.8 baisas, an increase of 7.8 baisas on the 2009 EPS figure, the shareholder approved the bank's audited financial results for the year ended December 2010.
ahlibank achieved a net profit of RO14.1 million against a net profit of RO8.5million reported during the same period in 2009, which indicates an impressive growth of 65 per cent.
During the last quarter, the bank also successfully completed a subordinated bond issue of RO35 million, which was oversubscribed.
Chairman Khalid Hamad Hamood Al Busaidi announced the board of directors' recommendation of a 12.5 per cent bonus shares for 2010.
"Keeping in view the current market condition and the early stage of our development, it is prudent to conserve bank's internally generated resources," he added.
The chairman also said ahlibank's commitment to the shareholders and the confidence it has in its ability to grow and enhance shareholders value remains stronger than ever. The shareholders duly agreed to the recommendation and approved the same.
As one of the leading banks in the Sultanate, ahlibank is deeply committed to its corporate social responsibility and to further help the community through donations to charitable organisation and to contribute to other social causes, the shareholders approved the board's proposal for donations of RO100,000 for the year 2011.
"Our financial results for the last year have been progressive and we at ahlibank are proud that our efforts have delivered positive outcomes. The bank has in all aspects remained strong and made record fiscal profits year after year making a mark in the Omani financial markets. We will, in the future continue to demonstrate our support to the country and its people though our services, dedicated staff and wise policy of 'ahlibanking,'" commented Abdul Aziz Al Balushi, chief executive of ahlibank.
"We would like to take this opportunity to thank all our customers, our shareholders and other stakeholders for their continued support and confidence. We also express our deep appreciation to Ministry of Finance, Central Bank of Oman and Capital Markets Authority for their guidance and support" the chief executive further added.
MUSCAT: ahlibank held its annual general meeting (AGM) at the Crowne Plaza hotel yesterday, presided over by the chairman Khalid Hamad Hamood Al Busaidi.
With the bank's earnings per share (EPS) for 2010 rising to 19.8 baisas, an increase of 7.8 baisas on the 2009 EPS figure, the shareholder approved the bank's audited financial results for the year ended December 2010.
ahlibank achieved a net profit of RO14.1 million against a net profit of RO8.5million reported during the same period in 2009, which indicates an impressive growth of 65 per cent.
During the last quarter, the bank also successfully completed a subordinated bond issue of RO35 million, which was oversubscribed.
Chairman Khalid Hamad Hamood Al Busaidi announced the board of directors' recommendation of a 12.5 per cent bonus shares for 2010.
"Keeping in view the current market condition and the early stage of our development, it is prudent to conserve bank's internally generated resources," he added.
The chairman also said ahlibank's commitment to the shareholders and the confidence it has in its ability to grow and enhance shareholders value remains stronger than ever. The shareholders duly agreed to the recommendation and approved the same.
As one of the leading banks in the Sultanate, ahlibank is deeply committed to its corporate social responsibility and to further help the community through donations to charitable organisation and to contribute to other social causes, the shareholders approved the board's proposal for donations of RO100,000 for the year 2011.
"Our financial results for the last year have been progressive and we at ahlibank are proud that our efforts have delivered positive outcomes. The bank has in all aspects remained strong and made record fiscal profits year after year making a mark in the Omani financial markets. We will, in the future continue to demonstrate our support to the country and its people though our services, dedicated staff and wise policy of 'ahlibanking,'" commented Abdul Aziz Al Balushi, chief executive of ahlibank.
"We would like to take this opportunity to thank all our customers, our shareholders and other stakeholders for their continued support and confidence. We also express our deep appreciation to Ministry of Finance, Central Bank of Oman and Capital Markets Authority for their guidance and support" the chief executive further added.
© Times of Oman 2011
