Ahli Bank reports a net profit of QR465.2m for the year 2012

Commenting on the performance, Sheikh Faisal Bin Abdul-Aziz Al Thani, Chairman of Ahli Bank stated "We have delivered another year of consistent performance and record profits. Total Assets stood at a record QR20,606m for the first time in the history of the bank driven by growth in loans and advances and financial investments."

The chairman added that "during the year, the bank issued bonus shares of QR420.4m as a part of 2011 dividend distribution and successfully completed a rights issue to Qatari shareholders amounting to QR448.5m in Q4 2012. Despite the increased equity, ROAE remained strong at 16.4% and EPS stood at QR3.88".

Gross Operating Income stood at QR690.5m, despite reduction in margins due to lower lending rates during the year. The Non interest income grew by 19% to QR154m. The growth in the Non-interest income was impressive driven by increase in fee, investment income and gains on foreign exchange.

The Bank continues to invest in technology and infrastructure. Operating expenses increased by 6% to QR213.8m, but cost to income ratio was contained at 31.3%.

Loans & advances stood at QR13,813m compared to QR12,155m in 2011 showing a healthy growth of 13.6%. Investments increased by 56% to reach QR4,119m. ROAA was healthy at 2.5%.

The bank's board of directors have recommended a distribution of a 30% cash dividend (QR3/- per share), subject to the approval of Qatar Central Bank and the General Assembly Meeting.
The Capital Adequacy Ratio stood at 20.8% and Tier I Capital at 18.5%, including the effect of dividend distribution.

Ahli Bank's long term credit ratings were all affirmed by Fitch and Capital Intelligence at A- with a Stable outlook. The affirmation of rating reflects the Bank's solid profitability, adequate liquidity, and strong capitalization.

Sheikh Faisal Bin Abdul-Aziz Al Thani concluded "the performance was very encouraging and the Government's budget spending for the fiscal year 2013 undoubtedly provides optimism in the economy and opens many investment opportunities in the local market, we look forward to 2013 with optimism based on Qatar's impressive economic performance. We are focused on meeting customer needs, and deliver outstanding shareholder value."

"We thank our customers as well as Qatar Central bank for their support", the chairman added.
These results are based on the Audited Financial Statements, which are subject to the final approval of Qatar Central Bank and the shareholders.