Ahli Bank QSC (ABQK) announced a net profit of QAR505.7 million for the first nine months of 2015, an increase of 10.4% over the corresponding period last year (2014 – QR458.1 million).

Summary Financial Highlights:

  • Total Operating Income grew by 8.8% to QR753.3 million for the first nine months ending September 2015 over the corresponding period in 2014. This growth was driven primarily by the bank’s Non-Interest Income, which grew by 28.6% to reach QR 182.6 million in September 2015.
  • The Bank’s Balance Sheet grew by 5.9% over September 2014 to QR32,198 million, driven by growth in Loans and Advances.
  • Total Loans and Advances stood at QR22,426 million witnessing a year on year growth of 11%.
  • Total Core Funding expanded by 12.4% to reach QR24,764 million as against QR22,025 million in September 2014. Within Total Core Funding, Customer Deposits rose by 8% to QR21,245 million and Stable Funding consisting of Medium Term Borrowings increased to QR2,003 million in September 2015 from QR182 million in September 2014. Stable Funding as a percentage to Total Liabilities improved to 7.2% in September 2015 vis-à-vis 0.69% in September 2014.
  • Non-Performing Loans ratio (NPL) improved to 1.16% as of September 2015 from 1.22% in September 2014, reflecting strong asset quality.
  • The Return on Average Assets (ROAA) remained steady at 2.2%, despite the increase in balance sheet size.
  • Return on Average Equity (ROAE) stood at an impressive 16% for the first nine months of 2015.

Commenting on the results, Sheikh Faisal Bin AbdulAziz Bin Jassem Al-Thani, Chairman and Managing Director of Ahlibank stated:1 Sheikh Faisal Bin AbdulAziz Bin Jassem Al-Thani Chairman and Managing Director Ahli Bank

On the strength of the bank’s various business initiatives, we delivered another consistent performance. The bank focussed on increasing stable funding and as a result, our medium term borrowings now accounts for 7.2% of total liabilities. As recognition of our excellent performance, the credit rating agency, Fitch, has now affirmed the bank’s, Long Term Foreign Currency Rating of ‘A+’, reflecting Ahlibank’s strong profit generation, satisfactory liquidity, sound asset quality and solid capital ratios.’

The bank has achieved few more milestones in its journey by becoming compliant with the State of Qatar’s much-anticipated wage protection system (WPS), well ahead of November 2, 2015 implementation set by the government authorities. An E-acquiring product was launched for corporate customers to collect online payments through credit and debit cards. PCI-DSS (Payment Card Industry – Data Security Standards) certification was also obtained, which is known to be one of the most granular security standards in payment card industry. In recognition of the successful implementation of a Capital Management Solution, Asian Banker awarded Ahlibank the Compliance & Risk Technology Implementation Award for the year 2015. Also, we take this opportunity to thank the Qatar Central Bank for their valued leadership and support.’