Ahlibank’s Net Profit QR 503.5 million for the first nine months of 2016
19 October 2016
Ahli Bank (QPSC) (ABQK) is pleased to announce a net profit of QR 503.5 million for the first nine months of 2016 maintaining its underlying performance as against the corresponding period of 2015.
Summary Financial Highlights:
- The Bank’s Balance Sheet grew by 9.6% over September 2015 to QR 35,298 million, driven mainly by growth in Loans and Advances.
- Total Loans and Advances stood at QR 25,370 million witnessing a year on year growth of 13.1%.
- Total Core Funding expanded by 10.6% to reach QR 27,381 million as against QR 24,764 million in September 2015. The funding growth was primarily driven by a 96% growth in stable medium term funding, which increased to QR 3,935 million in September 2016 from QR 2,003 million in September 2015. Stable Funding as a percentage to Total Liabilities improved to 12.9% in September 2016 vis-à-vis 7.2% in September 2015.
- Non-Performing Loans ratio (NPL) improved to 0.96% as of September 2016 from 1.16% in September 2015, reflecting strong asset quality.
- The Return on Average Assets (ROAA) remained steady at 1.98%, despite the increase in balance sheet size.
- Return on Average Equity (ROAE) stood at an impressive 14.7% for the first nine months of 2016.
Commenting on the results, Sheikh Faisal Bin AbdulAziz Bin Jassem Al-Thani, Chairman and Managing Director of Ahlibank stated “Against the backdrop of a challenging market environment, we delivered another consistent and satisfactory performance which highlights the strength of the Bank’s ability to deliver our business plan and underlying initiatives. The earnings were achieved with improvement in Asset quality and cost containment. The Non-Performing Loans ratio (NPL) improved to 0.96% from 1.16% in September 2015. Also, we take this opportunity to thank the Qatar Central Bank for their valued leadership and support.”