(The Group’s Comments) Ahli Bank Net Profit Rose to QR 177.45 Million in Q1 2019

 

April 18, 2019

 

Profits: Ahli Bank’s profits amounted to QR 177.5 million in the first quarter of 2019, an increase of 0.80% compared to QR 176.1 million for the same period of 2018, while its earnings per share reached QR 0.77 in the first quarter of 2019, versus QR 0.76 for the corresponding period of 2018.

 

Operating Income: amounted to QR 262.47 million by the end of the first quarter of 2019, compared to QR 260.85 million for the same period of 2018. As for net interest income, it decreased by QR 2 million due to the climb of Interest Payable higher than the increase in Interest Receivable payable to settle at QR 204 million, compared to QR 206 million for the same quarter of 2018.

 

Expenditures: The bank's expenses have not seen any significant change and stood at QR 85 million in the first quarter of 2019, compared to QR 84.4 million for the corresponding period of last year. However, expenses due to the losses from the decrease of loans climbed to reach QR13.75 million in this past quarter, compared to QR 6.6 million for the same period last year.

 

Comprehensive Income: The Bank recorded an assessment profit in the statement of comprehensive income of about QR 3.34 million, compared to a loss of QR 4.43 million for the first quarter of 2018.

 

Assets: amounted to about QR 40.05 billion, compared to QR 40.40 billion at the end of 2018. The ratio of loans to deposits was 117% compared to 126% by the end of 2018.