Al Khaliji Annual General Assembly approves 2012 financial statements and the distribution of cash dividends

His Excellency Sheikh Hamad Bin Faisal Bin Thani Al-Thani, Chairman and Managing Director of Al Khaliji, presented the Board of Directors' report on the Bank's activities and financial position for the year ended 31 December 2012 and the future plans for 2013.

Commenting on the 2012 activities, His Excellency said: "We remained focused on delivering value to our shareholders and providing next generation banking services to our preferred customers. Al Khaliji did not deviate from its Qatar centric, corporate and treasury led customer-focused strategy aligned to the vision and objectives of Qatar. This is one reason why the Bank was well placed to continue growing and delivering profits to shareholders and value to customers".

Commenting on al khalji's plans for 2013, Sheikh Hamad Bin Faisal Bin Thani Al Thani said: "In the beginning of 2013, the Board of Directors approved a new strategy for three years. The ultimate aim of our 2013-2015 strategy is to create and deliver long-term sustainable shareholder value. We will do this by focusing on four key business pillars; Corporate, Treasury and Fixed Income, Private and Premium banking and continued coverage model in GCC with particular focus in UAE as a second home market."

During the meeting, the shareholders of Al Khaliji heard and approved the External Auditor's Report on the Bank's financial position and the accounts submitted by the Board of Directors for 2012. They also discussed and approved the Bank's financial statements and the proposal of the Board regarding the distribution of QR1 per share as cash dividends, representing 10% of the Bank's paid-up capital.

Al Khaliji shareholders discussed the Corporate Governance Report for 2012, absolved the Board members from any liability, and fixed their remuneration for 2012. They also approved the appointment of Ernest and Young as External Auditors for 2013 and fixed their fees.

Sheikh Hamad Bin Faisal Bin Thani Al Thani concluded: "We wish to express our deepest gratitude to His Highness Sheikh Hamad Bin Khalifa Al Thani, Emir of Qatar, and His Highness Sheikh Tamim Bin Hamad Al Thani, The Heir Apparent, for their continuous support to the Qatari economy and institutions. We also express our sincere gratitude to His Excellency Sheikh Abdullah Bin Saud Al-Thani, Qatar Central Bank's Governor, for his leading role in developing the banking sector and to all regulators, in particular, the Ministry of Business and Trade and the Qatar Exchange for their unwavering support. Finally, we thank Al Khaliji management, staff, customers, and shareholders for their continuous trust and confidence and confirm our full commitment to even more prosperous results in 2013 and subsequent years."

The General Assembly was held at the Four Seasons Hotel and was attended by Al Khaliji shareholders, Board members, management and staff, and other investors and analysts.