Ahlibank’s Net Profit QR 360 million for the first half of 2023
20 July 2023
Doha, 20 July, 2023 - Ahli Bank Q.P.S.C. (ABQK) announced a net profit of QR360 million for the first half of 2023, with an increase of 8.8% over the same period last year.
Commenting on the results, Mr. Hassan Ahmed AlEfrangi, Ahlibank’s CEO said: “The Bank achieved satisfactory results on the back of steady operating performance. As a testimony to our stable performance, Moody’s have affirmed Ahlibank’s credit ratings as A2/Prime 1 in June 2023 with a stable outlook. The rating catalysts are the Bank's solid capital, healthy liquidity, strong profitability and contained level of reported doubtful loans & improved provisioning coverage.”
Mr. AlEfrangi added: “As we embark on our forward-looking strategy, we are fully committed on investing in the future, with a strategic emphasis on enhancing our digital capabilities aimed at making banking easier and safer for our customers. Attracting key Qatari talents to the Bank and training them to assume leadership positions in the future will continue to be one of the most important priorities as part of our Qatarization plan in line with Qatar’s National Vison 2030.”
Commenting on the results,
H.E Sheikh Faisal Bin AbdulAziz Bin Jassem Al-Thani, Chairman of Ahlibank stated that the Bank’s steadfast half-year results are a testament to our consistent track record of delivering sustainable results, noting that the Bank is committed to enhancing customer services and expanding its customer base. The Chairman emphasised that customer satisfaction and shareholder value are among the Bank's top priorities. Additionally, the Bank will continue to strive to achieve positive results.
The
Chairman emphasised Ahlibank’s commitment to sustainability that promotes responsible business practices. He noted that Ahlibank is implementing several initiatives that play an important role in enhancing long-term growth prospects and contribute to the sustainable development of Qatar’s economy.