Ahlibank’s Net Profit QR 308 million for the first half of 2021
15 July 2021
Doha, 15 July, 2021 - Ahli Bank QPSC (ABQK) announced a net profit of QR308.4 million for the first half of 2021, with an increase of 4.7% over the same period last year.
Commenting on the results, Mr. Hassan Ahmed AlEfrangi, Ahlibank’s CEO said: “The Bank achieved satisfactory results on the back of strong operating performance”.
Mr. AlEfrangi added: “The Bank delivered another stable results with all key performance indicators showing positive trends. The Bank also successfully completed two strategic initiatives during the first six months of 2021. First was the Issuance of USD300 Million Additional Tier 1 Capital in the international markets at a coupon of 4%. And second was the successful completion of the fifth bond issuance for US$ 500 Million under the Bank’s US$ 2.0 Billion EMTN Programme in the international debt capital markets at a competitive coupon rate of 2% and which was supplemented by a healthy geographical spilt of international investors. This is again a vote of confidence from international investors in both Ahlibank and the State of Qatar.
Mr. AlEfrangi further added: “There has been an increase in the number of digital transactions through the Bank’s digital channels with customers completing their everyday banking services in an advanced and secure way. The Bank will continue to focus on Qatarization in line with Qatar National Vision 2030.”
Commenting on the results,
Sheikh Faisal Bin AbdulAziz Bin Jassem Al-Thani, Chairman and Managing Director of Ahlibank stated: “The steady half yearly results of Ahlibank is in line with our track record of delivering sustainable results”. We continue to maintain high levels of stable and long term funding and strong capital levels”.
The Chairman further added, “We take this opportunity to thank our customers for their continuous loyalty towards Ahlibank, investors for their ongoing commitment, management and staff for all their dedication and Qatar Central Bank for their esteemed guidance and support.”