Qatar’s Ahlibank to continue its $2bn medium-term bond program

Qatar’s Ahlibank to continue its $2bn medium-term bond program

Qatar-based Ahlibank will continue its $2 billion medium-term bond program (EMTN) with the Board of Directors authorized to update the program periodically and issue new bonds.

Sheikh Faisal bin AbdulAziz bin Jassem al-Thani, Chairman, Ahlibank Board of Directors, chaired the annual extraordinary general meeting which approved the decision.

The extraordinary general meeting also approved the increase in the bank’s capital to the number of free shares approved by the AGM’s resolution equivalent to 5 percent amounting to 121,483,151 shares. The capital of Ahlibank will thus become 2,551,146,170 shares.

It also approved the amendment of a few articles of the bank’s Article of Association, which include amendments to the Commercial Companies’ Law by virtue of law No. 8 of 2021. The meeting approved the board’s recommendation for the distribution of dividends to shareholders as a cash dividend of 15 percent ($0.041 per share) and 5 percent free shares for 2021.

Ahlibank posted a net profit of $194 million in 2021 compared to $185 million in 2020.

Sheikh Faisal commented on the Bank’s financial performance that, “Ahlibank delivered positive results for our bank in 2021. Net profits reached QR713 million ($194 million), compared to QR680 million ($185 million) in 2020. Loans and advances grew, reaching QR33,570 million