News / Press Releases

Ahlibank Holds Annual Ordinary and Extraordinary General Meeting

28 February 2022
February 28th 2022 – Doha, Qatar. Ahlibank held its Annual Ordinary and Extraordinary General Meetings on Sunday, 27th February, chaired by Sheikh Faisal Bin AbdulAziz Bin Jassem Al-Thani, Chairman of the Board with attendance from the Bank’s shareholders.

The Annual Ordinary and Extraordinary General Meetings were held in adherence to the precautionary measures taken by the State of Qatar to avoid the spread of (COVID-19).

Ahlibank’s Board reported a net profit of QAR 713 million for the year ended 2021 compared to QAR 680 million for the year 2020.

The Annual Ordinary General Meeting approved the Board’s recommendation for distribution of dividends to the shareholders as cash dividend of 15% (QAR 0.15 per share) and 5% free shares for the year 2021.

The Annual Extraordinary General Meeting approved
  • The continuation of the $2 billion medium-term bond programme (EMTN) and authorising the Board of Directors to update the programme from time to time, pay any tranche and issue new bonds.
  • The increase of the Bank’s capital by the number of free shares approved by the AGM’s resolution equal to 5% amounting to 121,483,151 shares, such that the Bank’s capital becomes 2,551,146,170 shares.
  • Amendment of a few articles of the Bank’s Article of Association and which include amendments to the Commercial Companies’ Law by virtue of law No. 8 of 2021.

Sheikh Faisal Bin AbdulAziz Bin Jassem Al-Thani, Chairman of Ahlibank, commented on the Bank’s financial performance: “Ahlibank delivered positive results for our Bank in the year 2021. Net profits reached QAR 713 million, compared to QAR 680 million in 2020. Loans and advances grew, reaching QAR 33,570 million. Investments increased by 22% compared to December 2020, reaching QAR 8,613 million, while the Total Capital Adequacy Ratio in December 2021 achieved a healthy rate of 20.62%, reflecting the Bank’s strong financial position.

The Chairman added: “As a testimony to our stable performance, Moody’s has affirmed Ahlibank’s A2/Prime-1 deposit ratings. Fitch Ratings has also affirmed Ahlibank’s Long Term Issuer Default Rating (IDR) at 'A', pending further review in early 2022.”

Mr. Hassan Ahmed AlEfrangi, Ahlibank’s CEO said: “Ahlibank delivered a steady performance in a challenging environment. We are pleased to report consistent profit growth driven by operating income.

Mr. AlEfrangi added: “The bank achieved positive and stable financial results, with important achievements in many areas including technology and business. Two strategic initiatives during the current year were significant milestones. First was the issuance of USD300 Million Additional Tier 1 Capital in the international markets at a rate of 4%. Second was the successful completion of the fifth bond issuance for US$ 500 Million under its US$ 2.0 Billion EMTN Programme in the international debt capital markets. The issue was launched and completed on 29th June 2021. The competitive coupon rate was supplemented by a healthy geographical spilt of international investors. This is a vote of confidence from international investors not only for Ahlibank but also for Qatar.”

The Bank’s financial performance highlights for 2021 include:
  • The Bank’s Balance Sheet grew by 1.1% over December 2020 to QR 48,093 million.
  • The Bank’s Stable Funding consisting of Medium Term Loans and Debt Notes as a % of Total Liabilities stood at 15.7% in December 2021 with the Bank focused on improving the maturity profile of liabilities.
  • The Bank’s Loans and advances were stable at QR 33,570 million.
  • The Bank’s Net Profits increased by 4.9% to QR 713.5 million in December 2021.
  • Cost to Income Ratio for 2021 improved to 25% from 25.6% in 2020 reflecting efficient management of the Bank’s operations.
  • The Return on Average Assets (ROAA) and Return on Average Equity (ROAE) stood steady at 1.5% and 11.3% respectively, despite an increase in balance sheet size and equity base.
  • Total Capital Adequacy Ratio as of December 2021 stood at a healthy 20.6%, reflecting strong capital position of the Bank.

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