Doha: Al Ahli Bank is to witness major operational overhaul in the next few months after the massive raise in its capital base, said Hassan Mahmoud Hassan Hussein, its newly appointed chief executive officer.
Hassan Mahmoud said with the raise of the bank's capital base to over QR900m and the expertise of Bahrain's Ahli United bank (AUB) which completed the acquisition of a 40 per cent stake in Ahli Bank of Qatar recently would boost the bank's position in Qatari banking sector, according to the daily Arabic Al Sharq.
According to the daily's report, the CEO of Al Ahli Bank said the focus of the overhaul is on diversifying services for the bank's clients, opening new branches and develop the existing ones.
He added that the bank has started expanding in personal loans and credit cards besides commercial and investment activities in the past two months.
Hassan Hussein pledged that in the next six months the bank would be entirely overhauled able to play a more efficient role in the Qatari market and finance industry.
Al Ahli Bank, with its strong experience and in co-operation with AUB and its London branch will form a strong partnership that would enable the bank to finance the country's major projects.
He also said that the bank plans to recruit 80 new employees in the next few months to strengthen the bank's human resources.
© The Peninsula 2004
