al khaliji, Qatar’s pioneer ‘next generation bank’, held its Annual General Assembly on Monday 4 March 2013 at the Four Seasons Hotel.
During the meeting, shareholders approved the 2012 financial statements and praised the bank’s results a net profit (after tax) of QR512.2 million as of 31 December 2012, 5.2% higher than last year.
HE Sheikh Hamad bin Faisal bin Thani Al Thani, Chairman and Managing Director of al khaliji, presented the Board of Directors’ report on the bank’s activities and financial position for the year ended 31 December 2012 and outlined the bank’s plans for 2013.
Commenting on the 2012 activities, HE said:
‘We remained focused on delivering value to our shareholders and providing next generation banking services to our preferred customers. al khaliji did not deviate from its Qatar centric, corporate and treasury led customer-focused strategy aligned to the vision and objectives of Qatar. This is one reason why the Bank was well placed to continue growing and delivering profits to shareholders and value to customers.’
And regarding al khalji’s plans for 2013:
‘In the beginning of 2013, the Board of Directors approved a new strategy for three years. The ultimate aim of our 2013-2015 strategy is to create and deliver long-term sustainable shareholder value. We will do this by focusing on four key business pillars; Corporate, Treasury and Fixed Income, Private and Premium banking and continued coverage model in GCC with particular focus in UAE as a second home market.’
The shareholders approved the proposal of the Board regarding the distribution of QR1 per share as cash dividends, representing 10% of the bank’s paid-up capital.
al khaliji was the Platinum Sponsor for the 7th GCC Regulators’ Summit that took place 25-26 February 2013 at the St Regis Hotel, Doha. The GCC Regulators’ Summit remains the Middle East’s premier event on the topics of regulation, compliance, risk and governance, providing a perfect platform for regulators and financial professionals to meet and discuss challenges, propose solutions and share best practice in a unique conference experience.
al khaliji is one of Qatar’s leading banks and a member of Qatar Exchange, with QR 33.7 billion in total assets and QR 17.3 billion in customer deposits as of 31 December 2012. Visit the al khaliji website to discover the latest ‘next generation bank’ news and information.