News / Press Releases

Ahlibank’s Net Profit QR 713 million for the year ended 2021

16 January 2022
Doha, 16 January, 2022 - Ahli Bank PJSC (ABQK) is pleased to announce a net profit of QR 713 million for the year ended 2021 (2020: QR 680 million)

Commenting on the results, Mr. Hassan Ahmed AlEfrangi, Ahlibank’s CEO said: “The Bank achieved a steady performance in a challenging environment. We are pleased to report consistent profit growth driven by operating income. 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'.

Mr. AlEfrangi also said: “The two strategic initiatives during the current year were significant milestones in the history of the Bank. First was the issuance of USD300 Million Additional Tier 1 Capital in the international markets at a competitive coupon rate. 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.”

Mr. AlEfrangi added that the Bank is focused on customer service and business development. Ahlibank is spearheading its digital transformation with tech-driven solutions built to enhance the value proposition of our offerings to our customers, at the same time engagement with customers and giving them personal service and attention has been the key differentiator for us. The focus on Qatarization will continue in line with Qatar National Vision 2030.

Commenting on the results, Sheikh Faisal Bin AbdulAziz Bin Jassem Al-Thani, Chairman of Ahlibank stated: “Ahlibank’s steady financial performance proved the Bank’s stability. The Bank continues to maintain high levels of stable and long term funding with capital levels that will support and sustain growth going forward”.

The Chairman further added: “We take this opportunity to thank our customers for their continuous loyalty towards Ahlibank, shareholders for their ongoing commitment, management and staff for all their dedication and Qatar Central Bank for their esteemed guidance and support.”

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