Doha: Ahlibank’s fiscal year results for the year ended December 31. 2022 recorded a net profit worth QR772m compared to QR713m in the previous year. Yesterday, during its Annual Ordinary and Extraordinary General Meeting at La Cigale Hotel, Ahlibank’s board reported on the significant surge for the bank. The meeting was chaired by the board’s chairman, Sheikh Faisal bin AbdulAziz bin Jassem Al Thani and was attended by a number of the bank’s shareholders.
The meeting witnessed the approval of the board’s recommendation for the distribution of dividends to the shareholders as a cash dividend of 20 percent in the last year. Lauding the bank’s performance in 2022, Sheikh Faisal bin AbdulAziz bin Jassem Al Thani, Chairman of Ahlibank said: “The Bank continued to implement its strategy to achieve stable financial performance, which is reflected in the results of the fiscal year 2022.” He said that the year had “positive results” for the bank, highlighting its resilient financial impact.
Underlining some of the major improvements as compared to the previous year, he said: “Loan and advances grew by 1.4 percent, compared to December 2021, reaching QR34,032m. Customer deposits increased by 3.7 percent to QR28,954m compared to last year.
While the Total Capital Adequacy Ratio in December 2022 stood at 0.5 percent, reflecting Bank’s strong financial position.”
Ahlibank’s board also approved the continuation of the $2bn medium-term bond programme (EMTN) and authorising the board of directors to update it on a regular basis, pay any trance and issue new bonds in addition to the amendment of a few articles of the bank’s article of association. Commenting on the efficacious results for the year 2022, he said, “Our strong financial performance and profits enable us to deliver more value for customers and shareholders.”
