Ahlibank has registered a net profit of QR170mn in the first quarter of this year, up 3% on the same period in 2016. 
The bank’s operating income grew by 3.5%, mainly driven by net interest income. 
“Asset quality and the capital position continue to be healthy,” Ahlibank said yesterday. 
The bank’s balance sheet grew by 16.8% over March 2016 to QR37.8bn, driven mainly by growth in loans and advances to fund the customers’ business activities in Qatar and increase in investment securities.
Stable funding as a percentage to total liabilities improved to 17.1% vis-à-vis 7.9% in March 2016.
The cost-to-income ratio remained steady at 30.1%, “reflecting efficient management” of operating expenses.
The return on average assets (ROAA) and return on average equity (ROAE) stood solid at 1.79% and 14% respectively, despite an increase in balance sheet size and equity base.
Non-performing loans ratio (NPL) improved to 0.85% in March from 1.2% in March 2016, reflecting strong asset quality. Provision coverage grew stronger to 150% from 124% in March 2016.
On the results, Ahlibank chairman and managing director Sheikh Faisal bin AbdulAziz bin Jassem al-Thani said, “We are pleased with our performance in an economic environment that was tougher than last year. During the first quarter of 2017, the bank successfully met one of its key strategic objectives of improving stable funding by completing the second fundraising of $500mn in February 2017 as a part of the EMTN programme. We see this as a continued vote of confidence from international investors in both Qatar and Ahlibank. Over 170 leading institutions from Middle East, Asia and Europe participated in the fundraising, which was four times oversubscribed.”
“We have further improved the stability of our funding structure and positioned ourselves with both Basel III requirements while equipping our bank with the necessary tools to achieve controlled growth. As a testimony to our performance, in April 2017, Fitch Ratings affirmed our long term IDR at ‘A+’ with a stable outlook. Also, we take this opportunity to thank the Qatar Central Bank for their valued leadership and support,” the chairman added.