Ahlibank half yearly net profit jumps 8.8% to QR360mn

Ahlibank posted a net profit of QR360mn for the first half (H1) of 2023, up 8.8% on the same period last year.
Commenting on the results, Ahlibank CEO Hassan Ahmed AlEfrangi said, “The bank achieved satisfactory results on the back of steady operating performance. As a testimony to our stable performance, Moody’s have affirmed Ahlibank’s credit ratings as A2/Prime 1 in June 2023 with a stable outlook. The rating catalysts are the Bank's solid capital, healthy liquidity, strong profitability and contained level of reported doubtful loans & improved provisioning coverage.
“As we embark on our forward-looking strategy, we are fully committed on investing in the future, with a strategic emphasis on enhancing our digital capabilities aimed at making banking easier and safer for our customers.
“Attracting key Qatari talents to the bank and training them to assume leadership positions in the future will continue to be one of the most important priorities as part of our Qatarisation plan in line with Qatar’s National Vison 2030.”
Commenting on the results, Ahlibank chairman Sheikh Faisal bin AbdulAziz bin Jassem al-Thani stated that “the bank’s ‘steadfast’ half-year results are a testament to our consistent track record of delivering sustainable results”, noting that the “bank is committed to enhancing customer services and expanding its customer base.”
The chairman emphasised that “customer satisfaction and shareholder value” are among Ahlibank’s top priorities. Additionally, Ahlibank will continue to strive to achieve positive results.
The chairman emphasised Ahlibank’s commitment to sustainability that promotes responsible business practices.
He noted that Ahlibank is implementing several initiatives that play an important role in enhancing long-term growth prospects and contribute to the sustainable development of Qatar’s economy.