Loans and cialis en mexico only now Advance increase by 17%
Customers’ Deposits jumped by 6%
Total Assets increases by 15 %
Cost to Income Ratio reduces from 36 % to 30 %
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30th January 2012, Muscat: Ahli Bank SAOG, one of the leading commercial banks in the country, announced its unaudited results for the year ended December 31, 2011. The Bank has clocked a 29% surge in net profit for the year ended December 31,, 2011. The net profit rose from Rial 14.10 million in 2010 to Rial 18.22 million in 2011, demonstrating continued growth in the bank’s core operations. "ahlibank has performed strongly in 2011 achieving continued growth in its chosen market segments following the strategic realignment of its Corporate and Retail businesses. The results demonstrate positive momentum in both revenue and lending growth and we will look to maintain this for the year 2012” commented Mr. Abdul Aziz Al Balushi, CEO of ahlibank
The Bank Net Operating Income for the year ended December 31, 2011 grew by 37 % to Rial 35.31 million as compared to Rial25.83 million during the same period last year.
Credit Growth: The total assets at the end of 2011 have reached Rial 930 million representing a growth of 15 % as compared to Rial 806 million during the same period last year. The loan and advances grew by 17 % from Rial 656 Million in December 2010 to Rial 769 Million in December 2011.
Funding: in line with the use canadian pharmacy shop.com Bank’s strategy of maintaining adequate liquidity, reducing concentration risk and building a low cost deposit base, the customers’ Deposits grew by 6% from Rial 632 Million in Dec 2010 to Rial 669 Million in Dec 2011.
Asset Quality: through its prudent risk management practices, ahlibank continues to maintain the quality of its loan book as it is reflected in the NPL ratio of 1%. as on 31 December, 2011
Mr. Hamdan Ali Nasser Al Hinai, Chairman of the Board of Directors of ahlibank, while commenting on the financial results of the Bank, expressed his satisfaction with the steady progress made by the Bank over the years, "The Oman economy continues to outperform with strong growth forecast for the full year. The private sector is showing ongoing signs of recovery and we have seen increased activity this year. Ahlibank bank has continued to identify opportunities to grow its business and generic cialis paypal payment recommended site has delivered a strong set of results; this will remain our ongoing focus”
The year 2011:
Ahlibank has made significant progress in building its retail and corporate business, diversifying its portfolio through catering to the demands of the corporate businesses in Oman while carefully differentiating the needs of the premium and private banking segments as well as the SME segment. The Bank has successfully launched new and innovative products that cater to the needs of all individuals and organizations and has been recognized for playing a vital role in both the economical and social needs of the country.
Highlighting Ahli Bank’s key achievements and best price generic propecia developments in the year 2011, the CEO said, “Despite a slowdown in the economy due to the global financial crisis during the first six months of the year, our bank has reported growth. We have during this period, received recognition from local & regional media as well as from investment houses as a fast-growing and profitable bank built on a stable foundation. The Bank also laid foundation of its new Head office building & launched its CSR Initiative ‘ahlibank cares’ which reflects the bank’s commitment to play an effective role in securing a better tomorrow for future generations, in addition the bank has worked industriously to prepare for the launch of its Islamic Banking Services in the coming year following Central Bank of Oman circular in June 2011 to allow Islamic Banking in the Sultanate. Central Bank of Oman had issued broad guidelines for preparation of Islamic Banking windows and ahlibank is well prepared and geared up to meet the requirements of the Central Bank of Oman and shall start the Sharia’ compliant product after regulatory approvals. Dr Ali Muhyi al-Din al-Qura-Daghi a veteran in the Islamic Banking Industry in the region has been appointed as the Chairman of the Banks Sharia Board. The Board of Directors of ahlibank has also approved to raise RO 25 million through a rights issue at par, details of the rights issue will be disclosed at a later stage after obtaining regulatory approval. The Board of Directors has also approved the acquisition of Middle East Brokerage Company (LLC) at its book value subject to Central Bank of Oman and other regulatory approvals.”
Looking ahead towards 2012, Mr. Al Balushi stated, “We will continue to build on the progress that we have made in the year 2011, identifying opportunities to grow our business and deepen our presence in our domestic market whilst maintaining focus on balance sheet management, asset quality and risk management. We would not be able to reach these goals without the dedication and commitment of our management and http://kemron.com/buy-viagra-free-shipping staff. We also like to note the contribution of our strategic partner, Ahli United Bank, which has been invaluable during our development including the preparation for the upcoming Islamic Banking rollout.Our aim is to be recognized as the best and the most preferred bank in Oman”.