Ahlibank records a net profit growth of 13.0% for the year 2013

Ahli Bank Q.S.C. (ABQ) announced a strong performance for the year 2013. The Bank reported a net profit of QR525.7 million, compared with QR465.2 million for 2012, recording a growth of 13%.

Financial and business highlights: -
• Gross Operating Income stood at QR849.7 million, recording a growth of 23.0% over 2012.
• Net Interest Income and Fees and Commission Income grew by 27.8% and 17.3% respectively driven by growth in business volumes.
• The Cost to Income Ratio stood at 32.3%, reflecting calculated investments being made to meet future expansion.
• Total Assets stood at QR26,177 million, witnessing a growth of 27.0% over QR20,606 million recorded at December 2012.
• Loans and Advances grew by a healthy 23.5% to QR17,312 million, compared with QR14,014 million recorded at December 2012.
• Customer Deposits increased by 35.4% to QR18,891 million, over QR13,953 million recorded at December 2012.
• ROAE and ROAA were strong at 15.9% and 2.3% respectively, despite increased equity, following the issue of rights shares toward the end of 2012.
• Capital Adequacy Ratio remained strong at ~17.1% with Tier I capital at ~15.2% (before the distribution of dividends).
• Non-performing loans ratio (NPL) stood at 1.4% in December 2013, compared to 3.2% in December 2012.

Commenting on the full year results of 2013, Sheikh Faisal Bin AbdulAziz Bin Jassem Al-Thani, the chairman and managing director of Ahlibank stated, "The year has been a remarkable year of achievements. The all time high profits, roll out and execution of new strategy and migration of various systems, Qatar Foundation's entrance as a strategic investor in Ahlibank are the main highlights of 2013. As recognition of our excellent performance, Capital Intelligence ("CI") has raised Ahlibank's Long Term Foreign Currency Rating to 'A' from 'A-', while affirming the Short Term Foreign Currency Rating at 'A2'. Financial Strength Rating has been upgraded to 'A-'from 'BBB+' and Support Rating to '1' from '2' ".

"Board of Directors of Ahlibank has proposed a 30% bonus shares (3 shares for each 10 shares held) as the dividend distribution for the year 2013; the dividend proposal takes into account maximizing shareholder return and preserving capital to meet the bank's growth aspirations", the chairman commented.

Salah Murad, CEO of Ahli Bank stated "We look at 2014 with optimism. We will continue to focus in our home market to play an active role in supporting the upcoming infrastructure projects of Qatar in 2014 estimated to be US$ 24 billion. Our retail business will receive increased attention for delivering a superior customer experience. Process automation is another recipe of success. Last but not least is the development of young Qataris' talents to take up leading positions in the bank".

The Board of Directors and its management would like to thank our customers for their trust, the shareholders for their confidence in our ability to create enhanced value for them, the employees for their unequivocal dedication and commitment and Qatar Central Bank for its guidance and support.

These results are based on the Audited Financial Statements which are subject to the final approval of Qatar Central Bank and the shareholders.

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