Al khaliji Board approves financial statements for period ending 31 December 2008

Al khaliji, comprising of Al Khalij Commercial Bank (Q.S.C.), Al khaliji Services Limited and BLC Bank (France) S.A., recorded a consolidated Net Profit After Tax of QR103.57m and Total Assets of QR12.50bn. Notable items include Loans and Advances granted of QR6.98bn and Customer Deposits of QR4.67bn. The figures are subject to Qatar Central Bank approval.

H.E Sheikh Hamad Bin Faisal Bin Thani Al-Thani, Al khaliji Chairman and Managing Director, expressed satisfaction with the performance of the bank and commented: "Al khaliji is growing despite the turmoil in global markets. With our high capital base and strong shareholder support, our financial position is strong."

Al khaliji launched its branch and ATM network in Qatar in June 2008 and expanded internationally to include banking operations in the UAE and France, through the acquisition of BLC Bank (France) S.A. in November 2008. The bank's financial results announced today reflect these developments.

David Proctor, Chief Executive Officer, commented, "Despite the weak international economic environment, Al khaliji has established its operations in three countries, ahead of plan. The next phase involves increasing our market share in Qatar by opening new branches and launching new services for our customers."

In closing, H.E Sheikh Hamad Bin Faisal Bin Thani Al-Thani added, "We are confident in the strong economic position of Qatar and the Gulf and in the support given by the regulatory bodies. We express our sincere appreciation for the Government's unequivocal support to the financial sector in the State of Qatar."

His Excellency added, "We are entering a new banking era, and Al khaliji has proven that it is in a position of strength that allows it to face the current global financial crisis."