DOHA: The annual general meeting of Al Khalij Commercial Bank (al khaliji) held yesterday endorsed the bank’s financial statements for the fiscal year that ended on 31 December 2019, which posted a net profit after tax of QR646m.
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 2019 and future plans.
Commenting on the 2019 activities, the Chairman said: “2019 was another successful year for al khaliji at all levels. We continued our growth in Qatar thanks to the prudent economic policies and the stable financial system of the State of Qatar. Stability and sustainability were key drivers for growing our balance sheet while managing risk cautiously.''
''2019 marked a significant milestone in the development of the Bank as we inaugurated our new purpose-built Head Office al khaliji Tower, in the heart of Lusail City.''
During the meeting, the shareholders of al khaliji reviewed and endorsed the External Auditor’s Report on the Bank’s accounts. They also approved the Board’s proposal to distribute a cash dividend equal to 7.5 percent of the share nominal value, ie QR0.075 per share for the financial year that ended on 31 December 2019, and added the remaining profits to the accounting reserves.
