FINANCIAL SERVICES

Ahlibank posts first quarter net profit in Qatar

Ahlibank will continue to implement its digitisation strategy

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Ahlibank posted a net profit of QR218mn for the first three months of 2024, an increase of 6.6% over the same period last year.

Commenting on the results, Ahlibank CEO Hassan Ahmed AlEfrangi said: “Ahlibank continues to deliver a steady financial performance for the first quarter of 2024.”

AlEfrangi said the bank is working tirelessly to keep this momentum moving forward through a comprehensive optimisation of its financial and regulatory services.

He added: “Ahlibank will continue to implement its digitisation strategy. We have recently launched “Fawran,” an instant and secure payment service developed by the Qatar Central Bank. This new service attests to the progress achieved in the digital banking ecosystem of Qatar and helps provide an easier way to access banking services for everyone in the country.”

Ahlibank chairman Sheikh Faisal bin AbdulAziz bin Jassem al-Thani said: “Despite global and regional challenges, I am pleased to share that Ahlibank has commenced 2024 with a consistently steady performance. This serves as a testament to the Bank’s resilience in navigating challenging circumstances, and we remain confident in our ability to maintain this momentum moving forward.”

Sheikh Faisal added: “We take this opportunity to thank our customers for their continuous loyalty towards Ahlibank, shareholders for their ongoing commitment, management and staff for all their dedication and the Qatar Central Bank for their esteemed guidance and support.”
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