Muscat: ahlibank, the nation's premier financial institution, has been ranked as the No. 1 bank for the third consecutive year in the recent survey done by the OER-Gulf Baader Capital Markets.
The survey is based on the overall performance of commercial banks during the financial year 2013 and as a measure of consistency, the performance is judged on the cumulative averages over the period of the past four years. The assessment takes into consideration key performance indicators of business growth, sustainability, asset quality, productivity and efficiency, says a press release.
The award is the recognition of the trust and confidence that ahlibank has gained in the local financial services community with its dynamic yet prudent strategy of growth and diversification.
"The bank has been transformed into a dynamic entity with strong values and a customer-centric approach. It has posted an impressive growth, driven by innovative customer-focused services. This award will further bolster our resolve to build a strong financial institution by setting the highest benchmarks in the industry.
We also share this award with all our customers and stakeholders who have contributed significantly to our achievements," said Lloyd Maddock, ahlibank CEO.
Since inception ahlibank is committed to catering to the needs of individuals and companies by offering an attractive range of products and services. The bank has made significant progress in building its retail and corporate business by successfully launching new and innovative products to develop its franchise and support the economic development needs of the Sultanate of Oman.
During 2013, the bank's customer deposits have grown by 29 percent in line with our strategy to build a stable low cost deposit base. Loan growth of over 19% has been established with a prudent risk management approach and a diversified sectorial basis.
The Bank seeks to continually enhance shareholder value through pro-active and prudent capital management framework to optimize the use of capital by ensuring the most favorable and EPS supportive allocation of capital; while fully complying with all Central Bank of Oman regulations in this respect.
"ahlibank is a trendsetter in the introduction of innovative products and services with its emphasis on sustainable performance. The bank's operating efficiency, asset allocation model and prudent yet dynamic strategy, combined with its seamless execution, ensures that it continues to stay ahead of competition," the CEO further added.
This award is just the latest feather in Ahlibank's corporate cap. In 2013, ahlibank was the recipient of a number of prestigious international and local awards.