Ahlibank has posted a first quarter (Q1) net profit of QR176.1mn, up 3.6% (QR6.1mn) on the same period in 2017. 
The bank’s balance sheet grew 4.7% over March 2017 to QR39.6bn, driven by growth in loans and advances, which jumped 13.7% to QR30.5bn. 
Total customer deposits increased 9.2% to QR24.1bn, despite challenging market conditions. 
Total operating income increased by 2.8% to QR260.8mn on account of higher net interest income as higher loan balances and asset re-pricing more than offset the increased funding cost and due to higher other operating income year over year.
Cost to income ratio for the quarter improved to 30%, reflecting efficient management of bank’s operations.
The return on average assets (ROAA) and return on average equity (ROAE) stood solid at 1.84% and 13.9% respectively, despite higher asset balances and equity base.
Non-performing loans ratio (NPL) stood at 0.96% as of March 2018 reflecting Ahlibank’s focus on asset quality over balance sheet growth. 
Loan loss provisions, including IFRS 9 expected credit losses as of first quarter, were sufficient to cover 214% of non-performing loans.
Commenting on the results, Ahlibank chairman and managing director Sheikh Faisal bin AbdulAziz bin Jassem al-Thani said, “I am pleased to announce that the bank started the year on a positive note with an increase of 3.6% net profit in first quarter compared to the same period of last year. The capital adequacy ratio of the bank remained at 16.7% well above the regulatory requirements. 
“These results highlight and confirm that we are on the right trajectory in delivering sustainable results. During the quarter we continued our focus on liquidity and cost control which is reflected in our steady performance. The growth in customer deposits adds strength to our funding profile.
“I would like to thank everyone who has contributed to these good results. I appreciate the dedication of our management and staff, commitment of our Board of Directors and shareholders, and the Qatar Central Bank for their leadership, support and guidance. I also want to thank our customers for their continuous loyalty towards Ahlibank brand and for choosing Ahlibank for their financial services,” Sheikh Faisal added.