ahlibank raises OMR20mn in bond issue

Muscat: ahlibank has successfully concluded the issuance of OMR20 million additional Tier 1 perpetual bonds through private placement. The bonds are listed on Muscat Securities Market (MSM).

The perpetual bond issue was successfully managed by ahlibank’s investment team and Said Al Shahry & Partners (SASLO) acted as the legal advisors for the issuance.

Speaking on the issuance, Said Abdullah Al Hatmi, CEO of ahlibank, said “We thank the investors for their trust and confidence and thank the regulators for their guidance. Issuance of this capital will help further strengthen the capital adequacy of the bank”.

ahlibank continued its growth trajectory during the first quarter ended on Mar 2019; the total assets grew by 13 per cent to OMR2,386 million and customer deposits increased by 10.5 per cent to reach OMR1,693 million. Meanwhile, ahlibank reported a 5.1 per cent increase in profit for the first quarter as compared to March 2018.

Recently, the bank has been ranked the “Best Bank in Oman” in the mid-size category at Oman Banking & Finance Awards 2019, during the New Age Banking Summit. Furthermore, the bank also won the Quality of Disclosure Award from Muscat Securities market during the year 2019.