Un-audited financial results for H1 2014 (AHLI BANK )
Ahli Bank wishes to announce the Un-audited financial results for H1 2014
30 June 2014 |
30 June 2013 |
Growth % |
|
RO in millions |
|
||
Equity |
187 |
174 |
7% |
Loans & advances and Financing |
1,250 |
1,042 |
20% |
Customers' deposits |
996 |
923 |
8% |
Total assets |
1,517 |
1,297 |
17% |
Profit for the period |
13.1 |
12.5 |
5% |
Operating income |
25.3 |
24.3 |
4% |
Bank’s customer deposits have grown by 8% in line with the strategy to build a stable low cost deposit base. Loan growth of over 20% has been established with a prudent risk management approach and in a diversified manner. The loan book continues to be of a very high quality as reflected in our NPL ratio of 1% as of 30th June 2014.
Operating income has increased by 4% to RO 25.3 million as compared to the same period last year, and operating expenses were controlled at RO 8.2 million resulting in a lower cost to income ratio of 32.3%. Overall, the net profit after tax rose by 5% to RO 13.1 million as compared to RO 12.5 million in the same period last year.
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