al khaliji announces third senior female appointment

Notes and media contacts

For further information on al khaliji, please contact:

Florence Janin
Senior Executive
Corporate Affairs, al khaliji
Mobile: +974 559 1547

Jeremy Hunt
Bell Pottinger Middle East
Office: +974 494 5482

About al khaliji
al khaliji was incorporated in Doha in January 2007, and completed its IPO and listing on the Doha Securities Market in August. Our aim is to become a major corporate and retail commercial bank across the Gulf and have recruited an experienced international management team and nearly 200 staff to execute this strategy.

Our shareholder structure gives us regional and local strength and depth. The bank's 191 founding shareholders, drawn from Qatar, Oman, the UAE, Kuwait and Bahrain own 43% of al khaliji's authorized and issued capital. Paid at 50%, their subscription in 312 million shares raised an initial QAR 1.56bln in ordinary capital. A Gulf-wide Private Placement of 288 million shares (again, paid at 50%) raised another QAR 1.44bln, or 40% of the bank's authorized capital. Following completion of the IPO, Qatari investors hold 17% of the bank's authorised capital, worth an initial QAR 600m paid at 50%. In total, al khaliji has an authorized and issued capital of QAR 7.2bln divided into 720 million ordinary shares paid at 50% equivalent to QAR 3.6bln

Our activities are underpinned by the highest standards of service, easy to understand products, and reliable, innovative technology. Built in response to customer demand for a bank that is designed to meet their needs and their lifestyles, al khaliji is bringing a new banking approach to the region in response to new research findings and customer needs.

al khaliji's key milestones
Since being established in January this year, al khaliji has passed many key milestones on its journey towards delivering what we call Next Generation banking to our customers. Our fresh approach to banking informs everything we do, from communicating important financial information to our shareholders, listening to our customers and how we talk to and treat our fellow colleagues. Highlights so far include:

January: We establish our first office in Doha's West Bay
February: A private equity placement is launched and three senior executives appointed
March: Designs for our branch network are finalised
April: We launch our highly successful IPO. This attracted 86,547 Qatari investors, who applied for shares worth QAR 1.37bln, leaving the offer 2.28 times oversubscribed. The IPO of 120 million shares, or 17% of the bank's authorised capital, was worth an initial QAR 600mln, paid at 50%.
May: The allocation of IPO and Private Placement shares is completed
June: We make a sponsorship of QAR 500,000 to the American School of Doha; finalise four branch locations and unveil our corporate Vision and Values
July: Our staff training branch facility is completed. Staff numbers hit 80 and the executive team is further strengthened with Finance and Treasury appointments
August: Our shares list on the DSM and we launch our "Conversation" by writing to all our shareholders and inviting other stakeholders to participate by giving their views on our website
September: Building and fit out is well under way on head quarters and training branch. The first training academy is held.
October: We launch a next generation HR policy as staff numbers swell to almost 200.