Ahlibank Qatar has reported an 8% jump in net profit to QR647.72mn in 2015 mainly on higher net operating income and substantial shrinkage in net impairment loss on loans.
The lender has recommended a total of 20% dividend, which includes 15% in cash and 5% in bonus stocks subject to the approval of the Qatar Central Bank and the general assembly meeting of shareholders.
The bank’s corporate banking, treasury, investments and brokerage reported a segment profit of QR538.5bn or 83% of net profit; while retail and private banking as well as wealth management chipped in with QR109.22mn or 17% of net profit in 2015.
Net interest income grew mere 1% to QR761.83mn but net fee and commission earnings grew faster at 12% to QR156.52mn, according to its financial statement filed with the QSE.
Net operating income of the bank reported 7% growth to QR995.86mn as income from investment securities more than doubled to QR45.61mn, foreign exchanges gains were up 28% to QR25.1mn and other operating income rose 53% to QR6.8mn. Moreover, net recoveries stood at QR1.55mn against net provisions of QR2.9mn in 2014.
Although impairment loss on investment securities grew almost five-fold to QR45.3mn and staff costs were up 10% to QR173.82mn; the lender witnessed a 61% plunge in net impairment loss on loans and advances to customers to QR15.43mn and other expenses fell 11% to QR92.54mn.
Total assets were valued at QR32.3bn, including loans and advances worth QR24.04bn, investment securities of QR4.85bn, due of QR1.66bn from banks and QR1.13bn of cash and balances with central bank.
The assets of corporate banking, treasury, investments and brokerage stood at QR25.98bn and those of retail and private banking as well as wealth management at QR6.32bn.
The bank’s capital adequacy ratio stood at 14.9% at the end of 2015.
Total equity stood at QR4.54bn on a capital base of QR1.82bn and earnings-per-share was QR3.56 at the end of December 31, 2015.