Ahlibank has posted a net profit of QR675.2mn in 2019, up 1.5% on the year before.
The bank’s balance sheet grew by 8.7% over December 2018 to QR43.9bn.
Loans and Advances grew 14.8% last year to nearly QR31.6bn.
Investment Securities grew by 27.1% to QR7.5bn in 2019.
Ahlibank’s customer deposits grew by 17.2% to QR25.5bn in 2019.
Ahlibank chairman and managing director Sheikh Faisal bin AbdulAziz bin Jassem al-Thani
Cost-to-income ratio for 2019 improved to 27.3% from 28.1% in 2018 “reflecting efficient management” of the bank’s operations.
The Return on Average Assets (ROAA) and Return on Average Equity (ROAE) “stood steady” at 1.7% and 11.9% respectively, despite an increase in balance sheet size and equity base.
Total capital adequacy ratio as of December 2019 stood at a “healthy” 17.1%, reflecting “strong” capital position of the bank.
On the results, Ahlibank chairman and managing director Sheikh Faisal bin AbdulAziz bin Jassem al-Thani said, “We are very pleased with our performance for this year, as the key growth drivers were positively reflected in the overall business growth.
“The bank has successfully met one of its key strategic objectives of improving stable funding by completing the third bond issuance for $500mn under its $1.5bn EMTN Programme in the international debt capital markets. The issue was oversubscribed by more than three times with orders from more than 85 investors from Asia, MENA and Europe. This demonstrates the continued vote of confidence from international investors in both Qatar and Ahlibank.
“As a further testimony to our performance, Ahlibank continues to enjoy higher credit ratings A2/P1 from Moodys and is the second highest rated conventional bank in Qatar after QNB. Fitch Ratings has also affirmed Ahlibank’s Long Term Issuer Default Rating (IDR) at 'A'.”
Sheikh Faisal 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.”
Ahlibank’s Board of Directors has proposed a cash dividend of 15% (QR0.15 per share) and a bonus share of 5% (one new share for every 20 shares held) as the dividend distribution for 2019.
The dividend proposal takes into account maximisation of shareholders’ wealth, bank’s internal capital requirements, liquidity and balance sheet growth projections.
The results are subject to the final approval of the Qatar Central Bank and the shareholders in the General Assembly, Ahlibank said.