(The Group’s Comments) Ahli Bank’s Net Profit Rises to QAR 359.27 Million in the First Half of 2019

July 18, 2019

Profits: amounted to QAR 359.3 million in the first half of 2019, compared to QAR 353.2 million in the same half of 2018, an increase of 1.7%, while the bank’s earnings per share reached QAR 0.155 versus QAR 0.153 for the corresponding half of 2018. On the other hand, Ahli Bank’s profits for the second quarter of 2019 recorded QAR 181.8 million, compared to QAR 177.1 million for the same period of 2018.

Operating Income: amounted to QAR 526.65 million by the end of this first half, compared to QAR 538.07 million for the same period of 2018, a drop of 2.12%. Ahli Bank’s net interest income fell by QAR 19 million, due to higher increase in interest rates than the increase in interest payable, to settle at QAR 400.1 million compared to QAR 419.3 million for the same half of 2018. The increase in foreign exchange profits by QAR 5.5 million and investment income by QAR 3 million in part offset the decrease in net interest income.

Ahli Bank’s expenses amounted to about QAR 148.6 million in this half, compared to QAR 155.9 million in the same half of 2018, a drop of about 4.7%, due to the decrease in staff costs and other expenses.

Comprehensive Income: Ahli Bank recorded valuation profits in the statement of comprehensive income of QAR 9.13 million, compared to a loss of QAR 7.22 million for the same period of 2018.