03 April 2011
MUSCAT: Hamdan Ali Nasser Al Hinai was elected new chairman of the ahlibank at its first board meeting after the bank's third annual general meeting recently.
Al Hinai is the director of contracts and legal affairs at the Ministry of Defence. Previously he has worked in government departments, in addition to being a member of the board of director to a number of companies.
The appointment Al Hinai is a testament to the board's trust in both Al Hinai's abilities and his vast experience in Oman. Al Hinai's appointment adds a fresh outlook to the bank's future plans.
The new chairman of ahlibank said: "lt's a privilege to have been elected chairman of the bank. ahlibank has enjoyed phenomenal growth under the leadership of Sayyid Khalid Hamad Hamood Al Busaidi, my predecessor, and on this occasion I extend my thanks and gratitude to my colleagues and to the board for their trust in me.
In addition, I would like to thank the bank management at all levels and whose efforts and dedication have resulted in the outstanding result in the past year. More importantly, I would like to commend the important role played by young Omani employees at all levels, which has contributed to the impressive results. We, at the bank, continue the Omanisation process, hoping cooperation of all concerned to achieve this goal.
Finally, I hope to continue the progress to ensure that the bank delivers on its commitment to the shareholders and clients and hope to strengthen ahlibank's presence within the Omani banking and finance industry."
Welcoming the new chairman, Abdul Aziz Al Balushi, chief executive of ahlibank said, "We are pleased to welcome Hamdan Ali Nasser Al Hinai as our new chairman and wish him success in this new role. Although Sayyid Khalid Hamad Hamood Al Busaidi appreciating his major role as a chairman, he will continue to serve ahlibank as a board member for the upcoming years."
In 2010, ahlibank achieved a net profit of RO14.1 million against a net profit of RO8.5 million reported during the same period in 2009, which indicates an impressive growth of 65 per cent during the year. During the last quarter, the bank also successfully completed a subordinated bond issue of RO35 million which was oversubscribed.
The Capital Adequacy Ratio (CAR) as of December 31 was 19.66 per cent, well above the Central Bank of Oman requirement of 12 per cent. Through its prudent risk management practices, ahlibank continues to maintain the quality of its loan book as reflected in the bank's NPL ratio of 0.31 per cent as of December 31.
MUSCAT: Hamdan Ali Nasser Al Hinai was elected new chairman of the ahlibank at its first board meeting after the bank's third annual general meeting recently.
Al Hinai is the director of contracts and legal affairs at the Ministry of Defence. Previously he has worked in government departments, in addition to being a member of the board of director to a number of companies.
The appointment Al Hinai is a testament to the board's trust in both Al Hinai's abilities and his vast experience in Oman. Al Hinai's appointment adds a fresh outlook to the bank's future plans.
The new chairman of ahlibank said: "lt's a privilege to have been elected chairman of the bank. ahlibank has enjoyed phenomenal growth under the leadership of Sayyid Khalid Hamad Hamood Al Busaidi, my predecessor, and on this occasion I extend my thanks and gratitude to my colleagues and to the board for their trust in me.
In addition, I would like to thank the bank management at all levels and whose efforts and dedication have resulted in the outstanding result in the past year. More importantly, I would like to commend the important role played by young Omani employees at all levels, which has contributed to the impressive results. We, at the bank, continue the Omanisation process, hoping cooperation of all concerned to achieve this goal.
Finally, I hope to continue the progress to ensure that the bank delivers on its commitment to the shareholders and clients and hope to strengthen ahlibank's presence within the Omani banking and finance industry."
Welcoming the new chairman, Abdul Aziz Al Balushi, chief executive of ahlibank said, "We are pleased to welcome Hamdan Ali Nasser Al Hinai as our new chairman and wish him success in this new role. Although Sayyid Khalid Hamad Hamood Al Busaidi appreciating his major role as a chairman, he will continue to serve ahlibank as a board member for the upcoming years."
In 2010, ahlibank achieved a net profit of RO14.1 million against a net profit of RO8.5 million reported during the same period in 2009, which indicates an impressive growth of 65 per cent during the year. During the last quarter, the bank also successfully completed a subordinated bond issue of RO35 million which was oversubscribed.
The Capital Adequacy Ratio (CAR) as of December 31 was 19.66 per cent, well above the Central Bank of Oman requirement of 12 per cent. Through its prudent risk management practices, ahlibank continues to maintain the quality of its loan book as reflected in the bank's NPL ratio of 0.31 per cent as of December 31.
© Times of Oman 2011
