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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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