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- Net Operating Income grew 4% year on year, ending at QAR 1,093 million
- Operating expenses of QAR 238 million, resulted in a cost/income ratio of 21.8%
- Loans and Deposits increased by 11% and 7% year on year respectively
- Total Assets closed at QAR 58.5 billion, increasing 6% year on year
- The Capital Adequacy ratio stood at a healthy 20.3%
Doha : Al Khalij Commercial Bank (al khaliji) P.Q.S.C., announced its financial results for the third quarter of 2021, reporting a year to date Net Profit of QAR 561 million. These results reflect an increase in operating income by growing assets and effectively managing margins.
His Excellency Sheikh Hamad Bin Faisal Bin Thani Al Thani, Chairman and Managing Director stated:
"Al Khaliji closed its 3rd quarter delivering improved profitability year on year. We are announcing these results shortly after our Extra Ordinary General Meeting held on October 6, where shareholders approved our merger with Masraf Al Rayan. Our positive set of results and healthy capital well position us to create a larger merged bank that will continue to deliver value for all stakeholders.”
Commenting on the Q3, 2021 performance Fahad Al Khalifa, al khaliji’s Group Chief Executive Officer said:
“We are pleased to report a 3%+ improvement in net profit year on year, which has come about by growing operating income as well as expanding our balance sheet. These results embody our focus on the market, selectively growing our balance sheet while steadily progressing in our merger with Masraf Al Rayan.
Our shareholders approved the transaction, which enables us now to complete remaining requirements and obtain final regulatory approvals to complete the merger. Throughout this process, our teams have continued to energetically service our clients, and create value for our shareholders. Our consistent set of positive results so far are a reflection of their efforts.
Our collective ambition remains to deliver a best in class merged Islamic bank to our customers”.
Key highlights – Q3, 2021 results
-Ends-
For further information on al khaliji, please visit www.alkhaliji.com
Investor Relations:
Eliane Abou Etmeh – Investor Relations Officer
Shabbir Barkat Ali – Group Chief Financial Officer
investor-relations@alkhaliji.com
© Press Release 2021
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