News / Press Releases

Ahlibank’s Net Profit QR 772 million for the year ended 2022

16 January 2023
Doha, 17 January, 2023 - Ahli Bank Q.P.S.C. (ABQK) is pleased to announce a net profit of QR 772 million for the year ended 2022 (2021:- QR 713 million), an increase of 8.2% compared to same period last year.

Based on the results achieved, the Board of Directors of Ahlibank has proposed a cash dividend of 20% (QR 0.20 per share) to be approved at the General Assembly. Balance sheet growth was led by an increase of 18.3% in net interest income, 11.2% in operating income and 3.7% in customer deposits compared to same period 2021. Loans and Advances grew by 1.4%. Non-Performing loans ratio improved from 3.74% as at 2021 to 2.57% in 2022 with a Provision Coverage of 199%.

Commenting on the results, Mr. Hassan Ahmed AlEfrangi, Ahlibank’s CEO said: “The bank's results for the year 2022 indicated a significant improvement in profitability and financial indicators”.

Mr. AlEfrangi added: “The Bank continued to implement its strategy and plan to provide innovative banking solutions, products and great service while focusing on supporting projects in the local economy. In line with Qatar’s National Vision 2030, attracting talented nationals and Qatarization will remain a top priority. Introduction of innovative technologies in the services provided to customers remains an integral part of the Bank’s objectives. This was achieved with the launch of modern methods of mobile payment with Apple Pay, Google Pay, Samsung Wallet, Fitbit Pay and Garmin Pay. The Bank continues to invest in technology and expand the product offerings while providing the best services to customers.”

Mr. AlEfrangi further added: “The security of our customer’s personal information and financial transactions is our priority and we ensure it stays secure and safe as we continue to invest in processes and improving our systems through strong cyber security, allowing customers to conduct their daily banking services in a sophisticated and secure manner.” Mr. AlEfrangi concluded: “As a further testimony to our performance, the Bank continued to enjoy higher credit ratings with international credit ratings of A2/P1 from Moody’s and Long-Term Issuer Default Rating (IDR) at 'A-' by Fitch.”

Sheikh Faisal Bin AbdulAziz Bin Jassem Al-Thani, Chairman of Ahlibank said: “True to its commitment to sustainability, Ahlibank has been keen on delivering the best initiatives as it holds environmental, social and governance compliance at the heart of its strategy. To this end, it has introduced a roadmap for ESG initiatives that will consolidate its commitment to sustainable development in the coming years.

The Chairman added: “Ahlibank is a key component of Qatari society and is committed to social responsibility towards this community and the Bank has been active in contributing to the wellbeing and welfare of society and people and in preserving natural resources and the environment.”

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.”

These results are subject to the final approval of the Qatar Central Bank and the shareholders in the General Assembly.

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