Doha, Qatar: The Annual Ordinary and Extraordinary General Meeting of Ahlibank held yesterday approved the financial results for the year 2024, reporting a net profit of QR891.6m, marking a 6.6 percent increase compared to the previous year (2023: QR836.5m).
The General Assembly which was chaired by Sheikh Faisal bin AbdulAziz bin Jassem Al Thani, Chairman of the Board with the presence of the bank’s shareholders also approved a 25 percent cash dividend distribution to shareholders for the year 2024.
Continuing its growth trajectory, Ahlibank achieved an 18.4 percent increase in operating profits, reaching QR1,453m, loans and advances grew by 2.6%, while total deposits expanded by 8.5%, reflecting the bank’s solid financial position and continued market confidence.
Addressing the meeting, Chairman of Ahlibank Sheikh Faisal bin AbdulAziz bin Jassem Al Thani said, “Ahlibank remains steadfast in its commitment to sustainability in alignment with Qatar Central Bank guidelines. We have integrated environmental, social, and governance (ESG) principles as a core part of our strategy and sustainability roadmap for the years ahead.”
Ahlibank Chairman further expressed his gratitude, saying: “On behalf of the Board of Directors, I extend my sincere appreciation to all stakeholders for their trust and support, particularly our management team and employees, whose dedication has been instrumental in the Bank’s continued success.”
Commenting on the bank’s performance, CEO of Ahlibank Hassan Ahmed AlEfrangi said, “Our strong financial results in 2024 demonstrate our ability to drive growth and enhance key financial indicators across multiple areas. Ahlibank’s continued growth and achievements underscore the effectiveness of our strategies and policies.”
“Ahlibank’s focus on diversifying its business activities, product offerings, funding sources, and revenue streams has significantly contributed to our sustained growth, and our commitment to technological innovation and digital transformation ensures that we remain at the forefront of the banking industry while prioritizing excellence in banking services, innovation, and customer satisfaction, positioning itself as a key player in Qatar’s financial sector,” AlEfrangi added.
He also reaffirmed the bank’s dedication to nurturing Qatari talent, emphasising initiatives aimed at attracting, training, and developing Qatari talent to become future leaders.
AlEfrangi pointed out that these efforts align with Qatar National Vision 2030, reinforcing the Bank’s role in fostering a skilled and capable national workforce.
The agenda of the Annual General Meeting included hearing the statement of the board about the bank’s operations and its financial position for the financial year ended December 31, 2024 and approving them and to discuss the bank’s future plans; hearing the auditor’s report for the audited financials and the final accounts for the year ended December 31, 2024 and approving it; hearing and discussing the auditor’s report on the governance of the bank; hearing and discussing the auditor’s report on internal control in the bank.
It also included discussing and approving the financial statements and the profit and loss account for the financial year ended December 31, 2024; approving the board recommendation for distribution of cash dividends for the year 2024 at the rate of 25 percent of the paid up capital; hearing the board report on the bank’s governance for the year 2024 and approving it, and hearing a report on the board self-assessment.
Also, discharging the Chairman and members of the Board of Directors from any liability for the financial year ended December 31, 2024 and approving their remuneration; approving the appointment of the external auditor of the bank for the financial year 2025 and to approve its fees.
Ahlibank seeks to comply with the Governance Instructions issued by Qatar Central Bank and all requirements of Corporate Governance, taking into account the best international standards and practices followed in the field of Corporate Governance.
According to Ahlibank’s Corporate Governance Report 2024, the bank is a key component of Qatari society and is committed to social responsibility towards this community. Pursuant to this approach, the bank has been active in contributing to the well-being and welfare of society and people in preserving natural resources and the environment.
It further stated, “At Ahlibank, we believe that being a responsible corporate citizen is essential to our business. That’s why we have implemented a range of CSR programs and initiatives that aim to positively impact our employees, customers, shareholders, and community.
During 2024, the Bank continued its mission to support key areas contributing to raising public awareness while offering personal and financial support. 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.
