DOHA: Ahli Bank (QSC) has reported a net profit of QR465.16m for the year ended December 31, 2012 with an increase of 5.2 percent as compared to 2011. The bank’s returns on average equity (ROAE) surged by 16.4 percent and earnings per share (EPS) increased from QR3.74 (2011) to QR3.88 (2012), the report of the board of directors (BOD) for 2012 said yesterday.
The BOD has recommended the distribution of a cash dividend of 30 percent, equivalent to QR3 per share, for approval of the general assembly. The bank’s returns on average assets (ROAA) improved to 2.5 percent, and customers’ deposits has increased by 10 percent, according to the report.
“These outstanding results are a tribute to the unwavering commitment of the Bank to enhance its performance and increase the competency and effectiveness of its products and services,” Sheikh Faisal bin Abdul Aziz bin Jassem Al Thani, Chairman of the board of directors of Ahli Bank, said.
For this “outstanding performance” he attributed to two developments that the Bank witnessed last year. The first was the decision of the BOD in January 2012 to increase the capital of the Bank by offering new shares equivalent to 20 percent of the capital at QR30 per share which increased the efficiency and competitiveness of the Bank.
And the second, he said, was the termination of the strategic partnership Ahli Bank held with Ahli United Bank, Bahrain since September 2004. This partnership was ended after Ahli United Bank decided to sell its share in Ahli Bank to Qatar Foundation (QF), who is now a strategic partner of Ahli Bank. “It is worth mentioning that QF joining the nank as a strategic partner is a valuable gain for Ahli Bank, and is expected to have a positive impact on the present and future of the Bank,” he added. The BOD also made other recommendations for the approval of the general assembly including the financial statements and profit and loss accounts of the Bank for the financial year ended December 31, 2012.
The Peninsula
