al khaliji completes its top team with the appointments of Niall Coburn and Guy Noble

Notes and media contacts

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

Maitha Al Qader
Principle, Corporate Affairs, al khaliji
Mobile: +974580842/ +971504277427

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 312m shares raised an initial QAR 1.56bn in ordinary capital. A Gulf-wide Private Placement of 288m 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 QAR600m paid at 50%. In total, al khaliji has an authorized and issued capital of QAR 7.2bln divided into 720m ordinary shares paid at 50% equivalent to QAR3.6bn

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 QAR1.37bn, leaving the offer 2.28 times oversubscribed. The IPO of 120m 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

What's Next?...