Ahli Bank Q S C : Ahlibank Holds Annual and Extraordinary General Meeting
February 16, 2016 at 08:57 am EST
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18 February 2015
Ahlibank, one of Qatar's leading banks, held its Annual General Meeting and Extraordinary General Meeting on Wednesday, February 18th, with good attendance from the bank's shareholders.
The meetings allowed Ahlibank to report a strong set of financial results outlining a net profit of QR 601.3 million for the year 2014, recording a growth of 14.4% compared to a net profit of QR 525.7 million in 2013.
The Annual General Meeting approved the Board's recommendation for distribution of cash dividends for the shareholders at the rate of 15%, and in the form of free shares of 10% for the year 2014 The Extraordinary Annual General Meeting also approved the increase of the Bank's capital by the number of free shares approved by the AGM's resolution equal to 10% amounting to 16,519,750 Shares, so that the Bank's capital becomes 181,717,253 shares.
With regard to Ahlibank's financial performance Sheikh Faisal Bin AbdulAziz Bin Jassem Al-Thani, Chairman & Managing Director, commented: 'Today's meetings have been an excellent opportunity to inform our shareholders of Ahlibank's ongoing financial success and to affirm our future direction. We are looking forward to the years ahead with optimism, always looking to reward our shareholders for the trust they have placed in our bank.'
Sheikh Faisal Bin AbdulAziz Bin Jassem Al-Thani further stated: 'We strive to perform to the highest levels so our shareholders optimise their return on investment. This is something we are delighted to have achieved once again over the last financial year. This aim runs in parallel with our continuing desire to provide Ahlibank customers with a community banking facility which is modern, innovative and governed within a financially and structurally secure environment.'
The bank's financial performance and highlights include:
Gross Operating Income at QR 933.9 million recorded a strong growth of 9.9% over 2013.
Net Interest Income and Fees and Commission Income rose by 9.6% and 13.0% respectively, driven by growth in assets and investments.
The Cost to Income Ratio contained at 30%, which compares favorably against peers.
Total Assets grew by a significant 19.9% and registered a historical high of QR 31,380 million, in comparison to QR 26,177 million reported at December 2013.
Loans and Advances grew by a healthy 23.1% to QR 21,308 million from QR 17,312 million recorded at December 2013, witnessing a steady growth in market share.
Non-performing loans ratio (NPL) continued to improve to 1.20% in December 2014 from 1.43% in December 2013, reflecting the Bank's sound asset quality.
ROAE and ROAA were strong at 15.5% and 2.2% respectively. Capital Adequacy Ratio remained strong at 16.6% with Tier I capital at 16.1% at December 2014 (prior to any dividend distribution for the year 2014).
Al Ahli Bank QSC issued this content on 16 February 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 16 February 2016 13:56:22 UTC
Original Document: http://www.ahlibank.com.qa/en/media-center/news-press-releases/ahlibank-holds-annual-and-extraordinary-general-meeting
Ahli Bank QPSC, formerly Ahli Bank QSC, is a Qatar-based bank. The Bank provides its products and services through its business segments: The Retail and Private Banking and Wealth Management segment, which includes individual customersâ deposit and current accounts, provides consumer loans, residential mortgages, overdrafts, credit cards and fund transfer facilities, investment products, funds, credit facilities, trusts and alternative investments, and the Corporate banking, treasury, investments and brokerage subsidiary segment offers loans and other credit facilities, and deposit and current accounts for corporate and institutional customers, and provides money market, trading and treasury services, as well as brokerage services. The Bank operates through its head office and a network of 17 branches located across the State of Qatar. The Bank has a wholly owned subsidiary, Ahli Brokerage Company SPC, which is active in brokerage operations.
AHLI BANK Q.P.S.C. 
