News / Press Releases

Ahlibank Holds Annual Ordinary and Extraordinary General Meeting

27 February 2024
Doha – 27 February 2024: Ahlibank held its Annual Ordinary and Extraordinary General Meetings on Tuesday, February 27, 2024, chaired by Sheikh Faisal Bin AbdulAziz Bin Jassem Al-Thani, Chairman of the Board with attendance from the Bank’s shareholders.

Ahlibank’s Board reported a net profit of QAR 837 million for the year ended 2023 compared to QAR 772 million for the year 2022.

The Annual Ordinary General Meeting approved the Board’s recommendation for the distribution of dividends to the shareholders as cash dividend of 25% for the year 2023.

The Annual Extraordinary General Meeting Approved

  • Increasing the foreigners’ ownership limit to be 100%
  • 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.

Sheikh Faisal Bin AbdulAziz Bin Jassem Al-Thani, Chairman of Ahlibank said: “. The Bank remains committed to the principles of good governance and has dedicated efforts to the development of its strategy for environmental, social governance, and sustainability, aligning with its role in community development. A specialized consulting firm has been engaged to formulate and implement the bank’s strategy in accordance with regulatory instructions. Consequently, Ahlibank has introduced environmental and social initiatives, reinforcing its commitment to sustainable development in the years to come.”

The Chairman added: “The Board is pleased to announce positive results for our Bank in 2023. Net profits reached QAR 837 million, compared to QAR 772 million in 2022 an increase of 8.4% compared to same period last year. Loans and advances grew by 2.1%, reaching QAR 34,754 million. Customer deposits increased by 2.4% to 29,645 million. While the Total Capital Adequacy Ratio in December 2023 stood at 21.04%, reflecting the Bank’s strong financial position.

The Chairman concluded: “On behalf of Ahlibank’s Board of Directors, I would like to thank all stakeholders for their trust and support and in particular the Bank’s management team and employees, whose efforts and dedication were instrumental in the success of the Bank.”

Commenting on the bank's performance, Mr. Hassan Ahmed AlEfrangi, Ahlibank’s CEO, affirmed: "The Bank achieved satisfactory results with an improvement in profitability and financial indicators. We continued to implement our strategies, offering innovative banking solutions, products, and excellent service, aligning with QCB’s 3rd Financial Sector Strategy."

Innovation in Product Offerings and Customer Engagement:

Introduction of Innovative Products:

Reflecting on innovation, Mr. AlEfrangi noted, "Throughout 2023, we introduced several innovative products, including Al Rabeh 2023, Pearl Rewards Digital Loyalty Platform, Corporate Cash Deposit Card, WU Remittance solution, Himyan Prepaid Card, and many more initiatives."

Promotional Campaigns Driving Customer Engagement:

Mr. AlEfrangi stated, "Furthermore, we launched various campaigns to promote our products and services, including Personal and Mortgage Loan campaign, International Cards Campaign, Salary Transfer Campaign, Ramadan Campaign, and Qatar Airways Campaign. These campaigns have been instrumental in raising awareness and driving customer engagement across different segments. Additionally, we emphasized our commitment to safeguarding customer information and financial transactions through robust processes, continuous system improvement, and advanced transaction monitoring and fraud systems.”

Commitment to Human Resources Development

Attracting and Retaining Talent:

Regarding human resources, Mr. AlEfrangi affirmed, the importance of employees as the bank's most valuable assets and highlighted efforts to attract the best local talents in line with Qatar National Vision 2030. "Our primary focus in 2023 was the development of Qatari nationals, significantly increasing the Qatarization percentage in line with Qatar’s National Vision 2030."

Products Enhancements and ATM Network Expansion

Enhancing Product Offerings:

Mr. AlEfrangi further elaborated, "In addition to our innovative product launches and campaigns, we enhanced existing products to better serve our customers. These enhancements included the Ultra Savings Account enhancement and the implementation of Instant Card Issuance in all branches."

Expansion of ATM Network and Advanced Security Measures

Mr. AlEfrangi highlighted, "To improve accessibility and convenience for our customers, we expanded our ATM network, reaching a total of 91 ATMs. Additionally, we installed bulk cash and cheque deposit machines at the Ain Khalid Corporate branch. Furthermore, we upgraded the ATM operating system, incorporating more advanced security features to ensure the safety of our customers' transactions."


Mr. AlEfrangi articulated Ahlibank's unwavering dedication to sustainability. "Beyond our financial achievements, Ahlibank remains deeply committed to sustainability initiatives, actively reducing our environmental impact, championing community causes, and advocating for sustainable banking practices. Our commitment to sustainability is integral to our organizational ethos, manifesting in a comprehensive array of initiatives meticulously designed to align with environmental, social, and governance considerations. Through a meticulously crafted roadmap, we are poised to embark on a journey towards sustainable development, firmly entrenched in our pledge to Qatar National Vision 2030, wherein sustainability stands as a cornerstone."

Credit Ratings:

Mr. AlEfrangi added, "As a further testimony to our performance, Ahlibank’s credit ratings with Moody’s remain at A2/P1 with a stable outlook, and Fitch maintains Ahlibank’s ratings at ‘A-’ and ‘F2’, with a stable outlook.

Customer Support

By using Ahlibank website, you agree and consent that we can use cookies to improve your online experience. For more information you can read our cookie policy under the privacy policy.

Mobile Banking App

Bank on the go. Manage your personal accounts easily and securely from your mobile device.

Download Now
App Store
Play Store
For all your mobile payments, check out