Ahli Bank has posted a net profit of QR503.5mn for nine months up to September, thus “maintaining its underlying performance” as against the corresponding period of 2015.
The bank’s balance sheet grew by 9.6% over September 2015 to QR35.3bn, driven mainly by growth in loans and advances.
Ahli Bank’s total loans and advances stood at QR25.3bn, witnessing a year on year growth of 13.1%.
Total core funding expanded by 10.6% to reach QR27.4bn in September compared with QR24.7bn in the same period last year.
The funding growth was primarily driven by a 96% growth in stable medium term funding, which increased to QR3.93bn in September compared with QR2bn in the same period last year.
Stable funding as a percentage to total liabilities improved to 12.9% in September vis-à-vis 7.2% in the same period last year, Ahli Bank said.
Non-performing loans ratio (NPL) improved to 0.96% as of September from 1.16% in the corresponding period last year, reflecting strong asset quality.
The return on average assets (ROAA) remained steady at 1.98%, despite the increase in balance sheet size.
Return on average equity (ROAE) stood at an impressive 14.7% for the first nine months of 2016.
On the results, Ahlibank chairman and managing director Sheikh Faisal bin AbdulAziz bin Jassem al-Thani said, “Against the backdrop of a challenging market environment, we delivered another consistent and satisfactory performance, which highlights the strength of the bank’s ability to deliver our business plan and underlying initiatives. The earnings were achieved with improvement in Asset quality and cost containment. The non-performing loans ratio (NPL) improved to 0.96% from 1.16% in September 2015. Also, we take this opportunity to thank the Qatar Central Bank for their valued leadership and support.”