15 July 2015
Net profit of QAR302 million, 17% higher than the same period in 2014

Total assets grew by 16% to reach QAR 56 billion in H1 2015

Loans and advances stood at QAR 30 billion, 25% higher year on year

Deposits increased 17% to QAR 30 billion

Net operating income at QAR563 million, up 19% on the same period last year

Doha - Al Khalij Commercial Bank (al khaliji) Q.S.C., announced its financial results for the first six months of 2015, reporting a Net Profit of QAR 302.4 million. This represents an increase of 17% over its financial results for the same period of last year. Al Khaliji France S.A.'s net profit was QAR 40.1 million by end of June 2015,up 3% from the same period in 2014 and representing 13% of the group's net profit.

al khaliji Bank Chairman and Managing Director His Excellency Sheikh Hamad Bin Faisal Bin Thani Al Thani said, following the review and approval, by the Board of Directors, of the Bank's consolidated financial results for the first half ended 30 June 2015. "al khaliji continues to achieve growth and strengthen its position in the Qatari market. In line with the Qatar National Vision 2030, we will continue to adapt to the economic situation and look for opportunities to support business growth, provide excellent service, meet the needs of the public and private sector, and achieve returns for our shareholders and safeguard their interests".

Commenting on the strong financial performance, Fahad Al Khalifa, al khaliji's Group Chief Executive Officer said:

"I am pleased to see that al khaliji achieveda strong overall performance, with net profit of QAR 302m in the first half, reflecting solid growth across all businesses, improved diversification in its source of funding and effective cost discipline. Going forward we will continue to increase our market share, through selective growth in our loan book, and to gain wallet share among our target clients. We are well positioned to achieve our corporate objectives in Qatar, and our overseas subsidiaries, and are on track to hit our financial targets for the year "

Income Statement highlights
Net Profit for the first half of this year is QAR 302.4 million compared to QAR 258.8million for the same period in 2014.

Net interest income increased by 24%, to QAR 453million by end of June 2015. Net fee and commission income reached QAR95.9million, up 17% compared to QAR 82.3 million by the end of June  2014.

Earnings per share increased to QAR 0.84in the first half of 2015 from QAR 0.72 in the first half of 2014.

Balance Sheet highlights
Total assets reached QAR 56.3 billion in the first six months of 2015,up 16% from H1 2014and up 10% year to date.

Al khaliji France S.A.'s represented 10% of the group's total assets.

Loans and advances grew 25% on the same period of last year and 11% higher than the fourth quarter of 2014 to reach QAR 29.7 billion by end of June 2015.

Deposits stood at QAR 29.7 billion, up 17% compared to the first six months of 2014 and up 8% from the fourth quarter of 2014. 

Capitalization 
The bank's capital adequacy ratio in H1 2015 was 15.1% as per Basel III.

Provisioning
Non-performing loans stood at QAR 238.2 millionat the end of June 2015, lower than QAR 366.3 million at the end of December 2014. The NPL ratio dropped to0.8% in H1 2015, down 33% from the previous quarter. 



Note: The financial statements, for the period ended 30 June 2015, will be published in the local press onreceipt of approval of the Ministry of Economy and Commerce.

For further more information about the financial results please contact:
Joe Maalouf
Head of Investor Relations
Investor-relations@alkhaliji.com

-Ends-

about al khaliji
al khaliji is Qatars pioneer next generation bank, offering a full range of conventional banking products and services to premium, business, corporate and international customers in Qatar, UAE and France.

Headquartered in Doha, al khaliji is one of Qatars leading banks and a member of the Qatar Exchange since 2007, with QR 56 billion in total assets and QR 30 billion in customer deposits as of 30th of June 2015.

Al Khaliji France is al khalijis subsidiary in Paris, France, with a network of branches in the UAE covering Abu Dhabi, Dubai, Sharjah, and Ras Al Khaima. This branch network offers customers and businesses local, regional and international banking services.

al khaliji products and level of service reflect the Banks belief that to be a successful financial institution, the Bank must meet the needs of both this generation and future generations of employees, customers, investors and business partners.

al khaliji was awarded with a positive Fitch Rating. With a Long Term Issuer Default Rating of A+ and a Short Term Issuer Default Rating of F1. Moodys Investor Services has assigned credit ratings of A3 to al khaliji with Stable outlook, this facilitates streamlined access to resources all over the globe.

Achieving financial objectives is critical to sustaining prosperity in any market, at al khaliji long-term sustainability is maintained by balancing the commitment to achieving results with the commitment towards the development of people and the community.

Visit www.alkhaliji.com and www.alkhaliji.fr to discover the latest next generation bank news and information.

Media Contact:
Abeer Al Kalla
Head of Public Relations & Communications
Telephone: + 974 4494 0646
Email: aalkalla@alkhaliji.com

Press Release 2015