DOHA: Ahli Bank QSC (ABQ) has reported a net profit of QR367m for the nine months ending September 30, 2012, recording a growth of 5.13 percent compared to the same period last year.
The bank’s net interest income stood at QR391.7m. Total fees, commissions and other non-interest income recorded a growth of 19.2 percent to QR116.4 m compared to QR97.7m in 2011.
Earnings per share (EPS) for the nine months stood at QR3.27 against QR3.15 reported during the same period last year.
Commenting on the performance, Sheikh Faisal bin A Aziz Al Thani, the Chairman of Ahli Bank said: “The current performance demonstrates the steady progress the bank has made during the first nine months of the year, particularly the growth in total assets to reach QR19.7bn with a capital adequacy ratio of 19.2 percent and increase in core earnings of the bank”.
The Chairman added: “Ahli Bank’s performance is being recognised by the international rating agencies. Recently Fitch reaffirmed the Bank’s credit rating of A- with a Stable Outlook”. The Bank is also rated A- by Capital Intelligence.
Moataz El Rafie, Chief Executive Officer, said: “Despite the pressure on our lending margins, profitability remains resilient with a growth of 5.1 percent over the same period last year. Our return on equity to shareholders now stands at 18.1 percent on an increased equity due to the issue of 60 percent bonus shares as dividend for the year 2011”
The highlight of the performance was loans and advances which stood at QR12.9bn, showing a growth of 19.2 percent over September 2011. The loan growth reflects Ahli Bank’s competitiveness and its ability to successfully penetrate the market.
The Peninsula
