The bank's annual ordinary general meeting approved the Board’s recommendation for distribution of dividends to shareholders as cash dividend of 15% (QR0.15 per share) and 5% free shares for 2021
Ahlibank’s annual extraordinary general meeting on Sunday approved the continuation of the $2bn medium-term bond programme (EMTN) and authorising the Board of Directors to update the programme from time to time pay any tranche and issue new bonds.
The annual ordinary and extraordinary general meetings were chaired by Sheikh Faisal bin AbdulAziz bin Jassem al-Thani, chairman, of the Board of Directors.
The extraordinary general meeting approved the increase of the bank’s capital by the number of free shares approved by the AGM’s resolution equal to 5% amounting to 121,483,151 shares. Ahlibank’s capital will thus become 2,551,146,170 shares.
It also approved the amendment of a few articles of the bank’s Article of Association, which include amendments to the Commercial Companies’ Law by virtue of law No. 8 of 2021.
The annual ordinary general meeting approved the Board’s recommendation for distribution of dividends to shareholders as cash dividend of 15% (QR0.15 per share) and 5% free shares for 2021.
Ahlibank posted a net profit of QR713mn in 2021 compared to QR680mn in 2020.
Sheikh Faisal commented on the Bank’s financial performance: “Ahlibank delivered positive results for our bank in 2021. Net profits reached QR713mn, compared to QR680mn in 2020. Loans and advances grew, reaching QR33,570mn. Investments increased by 22% compared to December 2020, reaching QR8,613mn, while the total capital adequacy ratio in December 2021 achieved a healthy rate of 20.62%, reflecting the bank’s strong financial position.
“As a testimony to our stable performance, Moody’s has affirmed Ahlibank’s A2/Prime-1 deposit ratings. Fitch Ratings has also affirmed Ahlibank’s Long Term Issuer Default Rating (IDR) at 'A', pending further review in early 2022.”
Ahlibank CEO Hassan Ahmed AlEfrangi said, “Ahlibank delivered a steady performance in a challenging environment. We are pleased to report consistent profit growth driven by operating income.”
AlEfrangi added, “The bank achieved positive and stable financial results, with important achievements in many areas including technology and business. Two strategic initiatives during the current year were significant milestones.
“First was the issuance of $300mn Additional Tier 1 Capital in the international markets at a rate of 4%. Second was the successful completion of the fifth bond issuance for $500mn under its $2bn EMTN Programme in the international debt capital markets. The issue was launched and completed on June 29, 2021.
“The competitive coupon rate was supplemented by a healthy geographical spilt of international investors. This is a vote of confidence from international investors not only for Ahlibank but also for Qatar.”
AlEfrangi further said the bank is focused on customer service and business development.
“Ahlibank is spearheading its digital transformation with tech-driven solutions built to enhance the value proposition of our offerings to our customers, at the same time engagement with customers and giving them personal service and attention has been the key differentiator for us. The focus on Qatarisation will continue in line with Qatar National Vision 2030.”
The annual ordinary and extraordinary general meetings were chaired by Sheikh Faisal bin AbdulAziz bin Jassem al-Thani, chairman, of the Board of Directors.
The extraordinary general meeting approved the increase of the bank’s capital by the number of free shares approved by the AGM’s resolution equal to 5% amounting to 121,483,151 shares. Ahlibank’s capital will thus become 2,551,146,170 shares.
It also approved the amendment of a few articles of the bank’s Article of Association, which include amendments to the Commercial Companies’ Law by virtue of law No. 8 of 2021.
The annual ordinary general meeting approved the Board’s recommendation for distribution of dividends to shareholders as cash dividend of 15% (QR0.15 per share) and 5% free shares for 2021.
Ahlibank posted a net profit of QR713mn in 2021 compared to QR680mn in 2020.
Sheikh Faisal commented on the Bank’s financial performance: “Ahlibank delivered positive results for our bank in 2021. Net profits reached QR713mn, compared to QR680mn in 2020. Loans and advances grew, reaching QR33,570mn. Investments increased by 22% compared to December 2020, reaching QR8,613mn, while the total capital adequacy ratio in December 2021 achieved a healthy rate of 20.62%, reflecting the bank’s strong financial position.
“As a testimony to our stable performance, Moody’s has affirmed Ahlibank’s A2/Prime-1 deposit ratings. Fitch Ratings has also affirmed Ahlibank’s Long Term Issuer Default Rating (IDR) at 'A', pending further review in early 2022.”
Ahlibank CEO Hassan Ahmed AlEfrangi said, “Ahlibank delivered a steady performance in a challenging environment. We are pleased to report consistent profit growth driven by operating income.”
AlEfrangi added, “The bank achieved positive and stable financial results, with important achievements in many areas including technology and business. Two strategic initiatives during the current year were significant milestones.
“First was the issuance of $300mn Additional Tier 1 Capital in the international markets at a rate of 4%. Second was the successful completion of the fifth bond issuance for $500mn under its $2bn EMTN Programme in the international debt capital markets. The issue was launched and completed on June 29, 2021.
“The competitive coupon rate was supplemented by a healthy geographical spilt of international investors. This is a vote of confidence from international investors not only for Ahlibank but also for Qatar.”
AlEfrangi further said the bank is focused on customer service and business development.
“Ahlibank is spearheading its digital transformation with tech-driven solutions built to enhance the value proposition of our offerings to our customers, at the same time engagement with customers and giving them personal service and attention has been the key differentiator for us. The focus on Qatarisation will continue in line with Qatar National Vision 2030.”