DOHA: Al khaliji, in Qatar, reported a net profit of QR131.5m for the first quarter of 2013. This represents an increase of 8 percent over its financial results for the same quarter of last year. Al khaliji France SA’s net profit was QR17m for Q1 2013, up by 53 percent compared to Q1 2012.
Total assets increased 28 percnet by the end of March 2013 and reached QR 34.4bn compared to QR26.8bn by the end of March 2012. Al khaliji France SA represented 10 percent of the group’s total assets. Loans and advances for the first quarter of 2013 stood at QR14.1bn, 20 percent higher than the same period of the previous year. Deposits grew 43 percent compared to first quarter 2012 and were at QR17.3bn. Loans to deposits ratio was at 81 percent by the end of March 2013.
The earning per share was QR0.37 for the first three months of this year, compared to QR0.34 for the same period in 2012. The capital adequacy ratio was at 19.9 percent and Tier 1 capital ratio at 18.3 percent. By the end of March 2013, the non-performing loans were at QR 55.6m, down 5.8 percent from end of 2012. The NPL ratio improved from end of 2012 and was at 0.39 percent by end of March 2013. The net operating income for Q1 2013 was at QR231m, 7 percent higher than Q1 2012.
Sheikh Hamad bin Faisal bin Thani Al Thani (pictured), Chairman and Managing Director, said: “This financial strength will allow us to continue fulfilling our strategic objectives for 2013 and beyond. The bank is adequately capitalized and well positioned to meet the requirements of future business growth. It also ensures liquidity at all times while creating additional value to shareholders”.
“al khaliji is starting the year 2013 with a solid financial performance. We are in line with our new 2013 strategy and these results depict the Bank’s sustained positive performance quarter after quarter,” said Robin McCall, Chief Executive Officer, al khaliji.
The revenue was generated mainly from the Qatar based conventional banking activities representing 87 percent. The remaining 13 percent was generated from al khaliji France SA, its wholly owned subsidiary headquartered in Paris (France) with its four branches in four different emirates in the UAE.
The Peninsula
