Latest news with #ahlibank
Zawya
26-05-2025
- Business
- Zawya
Ahlibank inaugurates a dedicated branch for its ‘Al Nukhba' and ‘Exclusiv' customers
Muscat: As part of its ongoing commitment to enhancing the customer experience, ahlibank has inaugurated a new branch featuring dedicated service centers for the 'Al Nukhba' and 'Exclusiv' individual private banking segments. The inauguration took place in the presence of a distinguished group of the bank's executives and employees. The new branch is strategically located on 18th November Street in Muscat, and has been equipped to the highest banking standards to meet the expectations of the bank's premium clientele. This initiative offers an exceptional banking experience that combines privacy, comfort, and excellence in the range of services and products provided. The launch of the new branch aligns with the bank's broader strategy of expansion and promoting financial inclusion. The new branch serves as a comprehensive platform offering a diverse portfolio of banking products and services, including account opening, card services, and a full range of credit facilities such as loans and financing. It also features a specialized Wealth Management division providing integrated investment advisory services across global markets with the highest levels of privacy. Equipped with ATMs, cash deposit machines, and secure safe deposit boxes, the branch is designed with spacious interiors to ensure fast, smooth transactions while accommodating a broad customer base, including individuals with disabilities. Staffed by a team of talented young Omani professionals, the branch delivers exceptional service from the welcoming reception to the specialized teams handling a wide array of banking needs. The opening of the new branch marks a significant milestone in the bank's continued efforts to strengthen its presence in key locations and offer a fully integrated banking experience tailored to the needs of high-net-worth individuals. Designed to the highest international standards, the branch is a specialized hub that caters to the 'Al Nukhba' and 'Exclusiv' segments, providing an environment that prioritizes privacy, comfort, and premium service. This expansion underscores the bank's commitment to financial inclusion and delivering added value through innovative, customer-centric solutions rooted in excellence and forward-thinking banking practices. The opening of this branch also reflects ahlibank's commitment to strategic expansion and to providing everything that facilitates customers' effortless access to banking services. This new location becomes the bank's 25th commercial branch, alongside 25 Islamic branches spread across the Sultanate, highlighting its balanced growth across various banking sectors. The bank's efforts extend beyond geographic expansion to include more than 16 multifunctional 'ahliExpress' machines, offering 12 instant banking services supported by personal video assistance around the clock. Additionally, the bank enhances its digital presence through smart branches and advanced technologies, complemented by a comprehensive electronic channels system, including a mobile app and online banking services, ensuring customers enjoy a seamless and secure banking experience everywhere. The successive achievements of ahlibank, foremost among them the opening of new branches, clearly demonstrate the firm establishment of its presence in the Omani banking sector. The bank continues to play a leading role in delivering accessible banking solutions, driven by its ongoing pursuit to strengthen its position as 'Partner in Excellence' in the Sultanate.
Zawya
18-05-2025
- Business
- Zawya
Ahli islamic's Al Shumoukh customers stand a chance to win an exceptional trip to London
Muscat: As part of its commitment to delivering an exceptional Islamic banking experience that meets the lifestyle aspirations of its customers, ahli islamic has announced the launch of a special promotional offer in collaboration with VISA, throughout May 2025. The campaign offers its Al Shumoukh Premium and Private Banking service segment customers a chance to enter a draw to win an all-expenses-paid trip to London, the British capital. This initiative reflects the bank's dedication to rewarding its distinguished customers with exceptional experiences that go beyond expectations, in line with its reputation as a leading provider of Sharia-compliant banking solutions. In line with its aim to position itself as a bank that goes beyond traditional services, ahli islamic, part of ahlibank, will announce the names of two winners in mid-June for a once in a lifetime, all-inclusive trip to London. The prize will also feature a unique driving experience at the iconic Goodwood Motor Circuit, with each winner accompanied by a guest. The winners will be selected from both new and existing holders of ahli islamic's Signature and Infinite credit cards. To qualify for the draw, customers must spend a minimum of OMR 500 during the promotional period, with every additional OMR 100 spent earning them extra chances to win. This initiative reflects the bank's ongoing commitment to offering exclusive rewards that enrich its customers' lifestyles and reinforce its position as a bank that places excellence at the heart of its products and services. Commenting on the campaign, Noora Sultan, AGM - Head of Retail Banking - ahli Islamic, said: 'At ahli islamic, we take pride in offering a new dimension to our customers' experience, one that reflects our commitment to building relationships that go beyond traditional banking. We believe that banking today should align with the customers' lifestyles and deliver genuine added value. Offering our winners the chance to enjoy an extraordinary experience in London is a sincere expression of our appreciation for their trust, and a reflection of our desire to reward them with exclusive benefits that match their stature. We view this campaign as another step in our journey to deliver tailored solutions and offerings that resonate with our customers' aspirations.' This campaign is part of a series of diverse offerings through which ahli islamic aims to deliver competitive advantages to its customers. The bank has introduced a variety of promotions tailored to suit different segments interests and occasions. ahli islamic continues to redefine the concept of banking promotions in line with the principles of Islamic finance, by offering innovative financial solutions that meet the demands of the modern era. These efforts reflect the bank's vision for excellence and leadership in the banking sector, both locally and internationally.
Zawya
11-05-2025
- Business
- Zawya
Ahlibank reports strong q1 2025 performance: Delivers sustained momentum and strategic growth
Muscat: Reaffirming its position as a 'Partner in Excellence', ahlibank recently shared its first-quarter 2025 financial results, reflecting a period of robust growth and resilience amidst a dynamic economic landscape. In light of Oman's renewed fiscal stability and a favorable outlook, the bank remains steadfast in its strategic focus on sustainable growth, innovation, and its commitment to people-centric values. In the first quarter of this year, ahlibank's momentum was further amplified through high-impact partnerships, digital transformation initiatives, and community-driven campaigns—reinforcing its role as a trusted partner in national development and inclusive economic progress. The bank's first-quarter performance demonstrates strong progress, underpinned by year-on-year growth across key financial indicators when compared to the same period in 2024. Net loans, advances, and financing increased by 9.6% to OMR 3,070.4 million, while total assets expanded by 9.1% to reach OMR 3,677.0 million. Customers' deposits recorded a strong uptick of 18.3%, rising to OMR 2,954.1 million—a testament to growing customer confidence in the bank's offerings. Operating income rose by 16.0% to OMR 28.24 million, outpacing the 11.3% increase in operating expenses, thereby reinforcing operational discipline and cost efficiency. Profit for the period stood at OMR 9.71 million, reflecting a solid 12.5% year-on-year increase, while equity strengthened to OMR 552.1 million, up 6.9% from the corresponding quarter in 2024. These results underscore ahlibank's consistent trajectory of prudent growth and value-driven performance, aligned with its strategic ambitions. Commenting on the bank's performance, Said Abdullah Al Hatmi, CEO of ahlibank, stated, 'As we pursue purpose-driven growth and innovation, our commitment remains centered on delivering long-term value to our customers, stakeholders, and the wider Omani economy. Guided by a clear roadmap, we are not just responding to market shifts—we are proactively shaping a banking sector that is more resilient, inclusive, and sustainable. Through our ongoing efforts, we are dedicated to delivering practical solutions that support the development and progress of our nation.' In the first quarter of 2025, ahlibank achieved significant milestones that underscore its commitment to driving Oman's economic growth. A notable achievement was the signing of a landmark Master Services Agreement with Petroleum Development Oman (PDO), streamlining PDO's financial operations through a customized B2B digital platform. Simultaneously, ahlibank further expanded its real estate financing portfolio through strategic partnerships, including a key collaboration with Dream Villa, the master developer of Al Ahlam District in Sultan Haitham City. Additionally, through its Islamic window, ahli islamic, the bank partnered with Al Masa Real Estate Development—the master developer of the Hay Al Azm project—in coordination with the Ministry of Housing and Urban Planning. These initiatives reflect the bank's commitment to supporting government-led urban development efforts across key regions of the Sultanate of Oman. ahli islamic also served as the lead financial advisor in the structuring and funding of the Sustainable City Yiti project, Oman's first net-zero energy city. The project reflects the bank's expertise in structuring Sharia-compliant financing solutions and its long-term commitment to green infrastructure and environmentally responsible urban development. Building on its commitment to ESG principles, ahli Islamic collaborated with be'ah to facilitate sustainable financing for environmentally responsible industrial waste treatment, reinforcing its role in supporting Oman's green economy. Together, these initiatives reflect the bank's forward-thinking approach to inclusive growth and innovation-led development. As part of its ongoing strategy to empower small and medium-sized enterprises (SMEs), ahlibank introduced a comprehensive digital solution that includes the innovative ahliPOS payment application—enabling businesses to accept payments directly through Android devices without the need for extra hardware. The offering also includes a Point-of-Sale (POS) financing program, providing flexible liquidity solutions based on payment receivables. These initiatives are designed to boost transaction efficiency and equip businesses with effective digital tools to drive growth and enhance competitiveness. During the holy month of Ramadan, ahlibank reaffirmed its strong commitment to corporate social responsibility through a range of meaningful community initiatives. For the second year in a row, the bank launched its 'Iftar Sayem' campaign in partnership with the Oman Food Bank, distributing approximately 1,000 complete Iftar meals to underprivileged families. Additionally, in collaboration with the Al Rahma Association for Motherhood and Childhood, the bank provided Eid clothing and essential household appliances to over 300 families. A standout initiative was the dedicated support for SMEs at the highly successful 'ahlibank Ramadan Souq' – Third Edition, which saw the participation of over 60 Omani entrepreneurs in cooperation with the Small and Medium Enterprises Authority (Riyada). As part of its 'Kaswat Eid' initiative, ahlibank and its Islamic window, ahli islamic, distributed new clothes to low-income families from across the Sultanate. Additionally, in collaboration with the 'Nidaa Al-Khair' team, Eid clothing and gifts were also provided to over 100 orphaned children. The bank also extended its support to the elderly by donating Eid clothes to residents of the Social Welfare Home. These efforts reflect ahlibank's unwavering commitment to creating a lasting, positive impact on the community while supporting the broader national economy. ahlibank continues to deliver meaningful outcomes for its key stakeholders through a clearly defined strategic vision. Reinforcing its focus on enhancing the customer experience, the bank recently inaugurated a new premium branch, designed to offer personalized financial services in a sophisticated, technology-driven environment. Grounded in innovation, social responsibility, and sustainable value creation, ahlibank is well-positioned to maintain its growth trajectory and play a pivotal role in shaping the future of Oman's financial sector.
Observer
11-04-2025
- Business
- Observer
Ahlibank approves LoI for merger with Sohar Intl Bank
MUSCAT: In a significant move that could reshape Oman's banking landscape, ahlibank SAOG has formally accepted a Letter of Intent (LoI) from Sohar International Bank SAOG proposing a merger. This development follows the initial disclosure made on April 7, 2025, concerning the receipt of this proposal. On April 10, 2025, ahlibank's Board of Directors convened to evaluate the strategic implications and potential benefits of the merger. After thorough deliberation, the Board resolved to proceed with the letter of intent, which outlines preliminary conditions for the merger. Central to the proposal is the structure of the merger, which is to be executed through incorporation. Under this structure, all assets and liabilities of ahlibank will be transferred to Sohar International, effectively consolidating both institutions by law on the merger's effective date. The letter of intent further stipulates the consideration for ahlibank shareholders, who are expected to receive shares in Sohar International as part of the transaction. This agreement is subject to various conditions, including regulatory approvals and further shareholder consent. This proposed merger is part of a broader trend of consolidation within the Gulf's banking sector, as financial institutions seek to enhance scale, reduce costs and improve competitiveness in a crowded market. In Oman, several smaller banks have explored partnerships in recent years to navigate tighter margins, rising compliance costs and economic shifts associated with energy transition efforts. Notably, Sohar International completed a merger with HSBC Bank Oman in 2024, demonstrating its strategic intent to expand through consolidation. Additionally, ahlibank received interest from its domestic rival, Bank Dhofar, for a possible merger in 2023, indicating its openness to strategic partnerships. As both banks move towards due diligence and final negotiations, market observers will be closely watching regulatory developments and stakeholder reactions. The successful completion of this deal could catalyse further strategic alignments within Oman's financial sector.
Zawya
07-04-2025
- Business
- Zawya
Ahlibank facilitates the issuance of the Sultanate's first Islamic commercial paper for Oman Flour Mills
Muscat: In a landmark transaction that underscores its leadership in Islamic finance and commitment to financial innovation, ahlibank Investment Banking Division acted as the financial advisor to Oman Flour Mills for the issuance of the Sultanate of Oman's first Islamic Commercial Paper (ICP) raising OMR 10 million. ahli Islamic acted as the sharia-structuring advisor and Investment Agent for the issuance. The proceeds of this 365-day instrument will be used to finance the working capital needs of Oman Flour Mills at a competitive rate. This milestone marks a significant advancement in Oman's Islamic capital market by introducing a structured, Sharia-compliant short-term liquidity instrument for corporate financing. By spearheading this initiative, ahlibank reaffirms its role as a key enabler of market development, bridging corporate funding needs with innovative Islamic financial solutions. Hanaa Al Kharusi, Senior General Manager – Wholesale Banking at ahlibank, stated, 'At ahlibank, we aim to craft win-win solutions which help meet the objectives of the corporates as well as the investors. Our goal is to drive financial inclusion, expand market opportunities, and support the nation's economic diversification. Through structured short-term liquidity solutions, we are enabling corporates to optimize working capital efficiently by diversifying their funding sources. This achievement paves the way for further advancements in Sharia-compliant financial instruments, positioning Oman as a dynamic hub for Islamic finance. As we continue to lead in this space, ahlibank remains dedicated to structuring solutions that not only benefit our customers but also contribute meaningfully to the nation's economic ambitions.' Commenting on this success, Haitham Al Saadi, CFO at Oman Flour Mills, said, 'The successful issuance of Oman's first Islamic Commercial Paper is a significant milestone for Oman Flour Mills as we continue to optimise our liquidity management through Sharia-compliant financing solutions. This transaction enables us to access competitive short-term funding while supporting the development of Oman's Islamic capital market. We appreciate the collaboration with ahlibank's Investment Banking Division and ahli Islamic in structuring this innovative financial instrument, which aligns with our commitment to financial sustainability and market-leading practices.' Commercial papers play a vital role in filling a gap by enabling high-grade corporates to raise short-term financing directly from investors. Further, Islamic Commercial Papers can help companies reduce their reliance on conventional borrowings and move toward becoming Shariah compliant. The ICP issuance was met with strong investor demand from pension funds, money market funds and Islamic Banks, and received demand of 1.4 times the issue size, reflecting confidence in both the market and ahlibank's expertise in structuring Islamic financial products. By facilitating this transaction, the bank has further cemented its position as a strategic driver of product innovation in the Islamic finance sector, paving the way for future issuances and broader market participation.
