(The Group’s Comment) Al Khalij
Commercial Bank Results
Net Profits: Bank’s net profits, free of payment of interests on
the additional capital, amounted to QAR 591.25 million compared to QAR
553.40 million of 2018, an increase of 6.8% while earnings per share
amounted QAR 0.164 vs QAR 0.154 for 2018.
Comprehensive
Income: The Bank recorded valuation profits of QAR
116.4 million versus losses of QAR 568 thousand for the preceding year
2018.
Operating
Income: Operating Income increased by 3% to reach
QAR 1177.7 million compared to QAR 1143.5 million. Net interests
increased by QAR 64.6 million recouping the decline in fee revenues and
foreign exchange profits.
Operating
Expenses and Provisions: This item
has declined by QAR 14.1 million to reach QAR 505.4 million against QAR
519.4 million for the preceding year 2018 attributed to the reduction of
the provisions avoided for the amortization of loans’ losses by QAR 14
million.
Assets: Loans and advances at the end of the year declined by
2.6%, an amount of QAR 820 million while customer deposits increased by
1.2%. Loans to customers’
deposits ratio was 105.5% while irregular loans to total loans ratio was
1.86%. Return on shareholders’ equity stood at 9.85% and the share book
value stood at QAR 1.67 per share.
Dividends
distributions and market ratios:
The Board of
Directors has submitted its recommendation to the shareholders’ AGM to
distribute a percentage of 7.5 of the share par value (QAR 0.075 per
share) cash dividends for the year 2019 representing 46% of the year’s
net profit. Dividend payout per share stood at 5.47% and the share is
traded at a multiplier of 8.35 times.
