Al Khaliji Discloses Its Interim Financial Statements for 1^stQ of 2017

April 19, 2017

Al Khaliji Commercial Bank (Al Khaliji) disclosed its financial statements for the period ended on 31/03/2017. The statements show that the net profit is QR 160.9M compared to net profit amounting to QR 156.2M for the same period of the previous year. The Earnings per Share (EPS) amounted to QR 0.45 for the period ended March 31, 2017 to EPS amounted to QR 0.43 for the same period of the previous year.

The Group's Comment

Al Khaliji's net operational income increased by 5.1% to QR 312.1 million in the first quarter of 2017, including QR 230.9 million as interest and QR 62.1 million as commissions.  Total expenses increased by 12% to QR148.2 million, including QR 51.9 million as staff cost; QR64 million as impaired loans; QR 25 million as other losses. As result, net profit rose by 3% to QR160.9 million. There was a positive change in the fair value of investment worth QR92.5 million, thus causing the comprehensive income to rise to QR 253.5 million, compared to QR 94 million in the same period last year.