Ahli Bank Q S C : Ahlibank’s Net Profit QR 170 million for the first quarter of 2017
April 18, 2017 at 05:43 am EDT
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18 April 2017
Ahli Bank QSC (ABQK) announced a net profit of QR 170.0 million for the first three months of 2017, an increase of 3% or QR 5.0 million over same period last year. Operating income grew by 3.5% mainly driven by net interest income. Asset quality and the capital position continue to be healthy.
Summary Financial Highlights:
The Bank's Balance Sheet grew by 16.8% over March 2016 to QR 37,866 million, driven mainly by growth in Loans and Advances to fund our customers' business activities in Qatar and increase in investment securities.
Stable Funding as a percentage to Total Liabilities improved to 17.1% vis-à-vis 7.9% in March 2016.
Cost to Income Ratio remained steady at 30.1%, reflecting efficient management of operating expenses.
The Return on Average Assets (ROAA) and Return on Average Equity (ROAE) stood solid at 1.79% and 14.0% respectively, despite an increase in balance sheet size and equity base.
Non-Performing Loans Ratio (NPL) improved to 0.85% as of March 2017 from 1.20% in March 2016, reflecting strong asset quality. Provision Coverage grew stronger to 150% from 124% in March 2016.
Commenting on the results, Sheikh Faisal Bin AbdulAziz Bin Jassem Al-Thani, Chairman and Managing Director of Ahlibank stated, 'We are pleased with our performance in an economic environment that was tougher than last year. During the first quarter of 2017, the Bank successfully met one of its key strategic objectives of improving stable funding by completing the second fundraising of US$ 500 million in February 2017 as a part of the EMTN programme. We see this as a continued vote of confidence from international investors in both Qatar and Ahlibank. Over 170 leading institutions from Middle East, Asia and Europe participated in the fundraising which was 4 times oversubscribed.'
The Chairman added, 'We have further improved the stability of our funding structure as well as positioned ourselves with both Basel III requirements while equipping our Bank with the necessary tools to achieve controlled growth. As a testimony to our performance, in April 2017, Fitch Ratings has affirmed our Long Term IDR at 'A+' with a stable outlook. Also, we take this opportunity to thank the Qatar Central Bank for their valued leadership and support.'
Al Ahli Bank QSC published this content on 18 April 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 18 April 2017 09:43:12 UTC.
Original documenthttp://www.ahlibank.com.qa/en/media-center/news-press-releases/ahlibanks-net-profit-qr-170-million-for-the-first-quarter-of-2017
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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. 
