Ahlibank approves 15% cash dividend and 5% bonus stocks

Ahlibank, which reported a net profit of QR647.7mn in 2015, yesterday approved 15% cash dividend and 5% bonus stocks to shareholders.
At the annual general meeting (AGM), presided over by Sheikh Faisal bin Abdulaziz bin Jassim al-Thani, chairman and managing director, the shareholders of the bank approved the dividend distribution for 2015.
The extraordinary annual general meeting also approved the increase of the bank’s capital by 9.09mn shares through the issuance of free shares, approved by the AGM’s resolution, equal to 5%, so that the capital becomes 190.80mn shares.
“We informed our shareholders today that Ahlibank continued to deliver another year of steady performance in a tough market environment,” Sheikh Faisal said, adding “as a Qatari bank at the heart of the community, we look forward to building upon these achievements over the coming years in the interest of our shareholders and the Qatari community.”
He said markets around the world endured some testing times during the year, with many regional and international economic indicators reflecting subdued performance. Across the Middle East, the falling oil prices, coupled with the regional unrest, impacted local economic growth.
“In Qatar, which felt the effects of the changing regional economic landscape like other countries in the region, the prudent economic policy of the government, which has brought about steady reforms, together with the continued government spending, enabled the country’s ambitious expansion plans to continue ahead of the 2022 FIFA World Cup and to support Qatar National Vision 2030,” he told shareholders.
Notwithstanding the global economic situation, the bank has made several “significant” achievements during 2015, including the execution of its plans for diversifying sources of funding and the distribution of debt maturities in order to meet the regulatory credit ratios, according to him.
Highlighting that during 2015, the renovation of the bank’s branch network continued ahead of schedule, Sheikh Faisal said the transformation has been well-received by the local community and continues to endorse its commitment to modern banking solutions that offer access for all.