Ahlibank to continue $2bn EMTN; shareholders approve 20% dividend

Ahlibank will continue its $2bn euro medium-term note (EMTN) programme and indicated issuing new bonds under this instrument.
At the annual extraordinary general assembly held yesterday, shareholders approved "the continuation of the $2bn EMTN and authorising the board of directors to update the programme from time to time, pay any tranche and issue new bonds."
This was announced by Sheikh Faisal bin AbdulAziz bin Jassem al-Thani, chairman of the board.
The extraordinary general assembly authorised the board to determine the size and manner as may be specified by it, in compliance with the instructions of the regulatory authorities.
The ordinary general assembly meeting approved the board’s recommendation of 20% dividends to the shareholders for 2022.
"Our strong financial performance and profits enable us to deliver more value for customers and shareholders. As a result of our steady performance in 2022, and taking into consideration the preservation of shareholders’ rights, the stability of the bank’s financial position, liquidity expectations, and the balance sheet, the board of directors proposed a cash dividend of QR0.2 per share for 2022," Sheikh Faisal said.
Highlighting that the bank continued to implement its strategy to achieve stable financial performance, which is reflected in the results of the fiscal year 2022; he said net profits reached QR772mn compared to QR713mn in 2021.
Total capital adequacy ratio in December 2022 stood at 20.5%, reflecting the bank’s strong financial position, according to him.
Hassan Ahmed AlEfrangi, Ahlibank Qatar chief executive officer, said the bank's results for 2022 indicated a significant improvement in profitability and financial indicators and places it on a solid foundation and a good position for medium and long-term growth, especially since its focus is on providing sustainable and long-term returns to its shareholders.
"Ahlibank achieved all of its goals during the past year better than expected, reflecting the strength of its business model and its strategic focus on diversification," he said, adding the bank is moving forward in implementing projects that contribute to the development and growth of the national economy.
He confirmed the growth of Ahlibank's digital services portfolio, which motivates it to continue investing in the bank's digital banking platform, in order to meet the requirements of its customers and provide digital services, thus cementing its leading position in this sector.
Stressing that it has launched several digital initiatives, including mobile payment mechanisms such as Apple Pay, Google Pay, Samsung Wallet, Fitbit Pay, and Garmin Pay; he said "we have continued to heavily invest in implementing the bank's digital transformation roadmap, and we had no doubt about our vision for digital transformation and our readiness to anticipate a new generation of digital banking services that preserve our leadership despite operational challenges."
On sustainability initiatives; he said "we have drawn a roadmap for these initiatives, which we will work on over the coming years to solidify our commitment to sustainable development, in support of and adherence to the Qatar National Vision 2030, with one of its key pillars being the commitment to sustainability principles in all its aspects."