Ahlibank has posted a net profit of QR837mn in 2023, up 8.4% on the same period last year.
Based on the results achieved, the bank’s Board of Directors has proposed a cash dividend of 25% to be approved at the General Assembly.
Commenting on the results, Ahlibank CEO Hassan Ahmed AlEfrangi said: “The bank achieved satisfactory results with an improvement in profitability and financial indicators.
“The bank continued to implement its strategies, offering innovative banking solutions, products and excellent service. The bank initiated the introduction of innovative technologies in customer service, aligning with QCB’s 3rd Financial Sector Strategy.
AlEfrangi continued: “Our primary focus in 2023 was the development of Qatari nationals and preparing them to assume leadership positions in the future. The Bank managed to increase the Qatarisation percentage significantly in line with Qatar’s National Vision 2030.
He emphasized the bank’s commitment to safeguarding customer information and financials transactions through robust processes, continuous system improvement, and advanced transaction monitoring and fraud systems.
“As a further testimony to our performance, the bank continued to enjoy higher credit ratings with international credit ratings of A2/P1 from Moody’s and Long-Term Issuer Default Rating (IDR) at 'A-' by Fitch,” AlEfrangi concluded.
Ahlibank chairman Sheikh Faisal bin AbdulAziz bin Jassem al-Thani said: “Ahlibank remains true to its sustainability commitments, prioritising environmental, social and governance compliance at the core of its strategy. Introducing a robust roadmap for ESG initiatives, the bank solidifies its dedication to sustainable development in the years ahead.
“As a vital part of the Qatari society, Ahlibank actively upholds social responsibility, contributing to the well-being of the community and preserving the environment.”
The chairman added: “On behalf of the Board of Directors I would like to thank our customers for their loyalty, the shareholders for their confidence in our mission, the management and staff for all their dedication and hard work, and extend a special gratitude to Qatar Central Bank for their uninterrupted guidance and support.”
These results are subject to the final approval of the QCB and the shareholders in the General Assembly.