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Al Khaliji's 10 Years Mark Continuous Growth, Strong Financial INITIAL BATCH | Page 7 IBM PLEDGE | Page 16 Philippines, Hiring plans China agree on while fi ring To advertise here $3.7bn projects thousands Call: Tuesday, January 24, 2017 CHARTING THE COURSE: Page 19 Rabia II 26, 1438 AH Rosneft seeks meeting with GULF TIMES Putin for QIA, Glencore aft er BUSINESS stake sale deal Al Khaliji’s 10 years mark continuous Ahlibank posts profi t growth, strong financial indicators Al Khalij Commercial Bank (Al Khaliji) is “continuing to push forward its vision” of converging human capital, technology and business to unlock future opportuni- ties, even as the bank is marking its tenth year in busi- of QR631.7mn in 2016 ness this month. Al Khaliji, which is “Qatar’s next generation bank,” hlibank posted a net profi t of growth in customer deposits outpaced sify our funding base and increase has achieved continuous growth and its overall key QR631.7mn in 2016 even as the a loan growth of 11.7%. our visibility in international mar- financial indicators remained strong. Further, the bank Abank saw its balance sheet grow Ahlibank’s cost-to-income ratio for ket. Middle East investors took up continues to push forward its vision of converging hu- by 18.2% to QR38bn last year. 2016 remained steady at 30.7%, re- the largest share (55%), followed by man capital, technology and business to unlock future Last year’s net profi t is only margin- fl ecting effi cient management of op- Asia (20%), UK (15%), Europe (6%) opportunities. ally lower than the QR647.7mn earned erating expenses. and others (4%). We have further Over the years, Al Khaliji’s achievements included in 2015, which the bank said was “a re- Return on average assets (ROAA) improved the stability of our funding releasing a new Internet banking upgrade, off ering sult of adopting prudence over growth and return on average equity (ROAE) structure as well as positioning our- subscribers advanced online banking, with continuous in navigating various economic and stood solid at 1.84% and 13.6% re- selves with Basel III requirements to enhancements and functions at the fingertips of clients regulatory challenges the banking spectively, despite an increase in bal- begin the next phase of our growth who prefer the speed, eff iciency and convenience of sector is experiencing exacerbated by ance sheet size and equity base. story. online banking. a decline in world oil and gas prices.” Non-performing loans ratio (NPL) “Another milestone in the bank’s Moreover, the bank has sponsored and actively par- “The balance sheet growth was improved to 0.82% as of December history is Moody’s assignment of A2/ ticipated in some of the banking and finance sector’s driven mainly by growth in loans and 2016 from 1.24% in December 2015, Prime-1 debut credit ratings to it with leading conferences and forums in both Qatar and the advances to fund our customers’ busi- “refl ecting strong asset quality.” Pro- stable outlook in February 2016. region, such as Private Banking Middle East Confer- ness activities in Qatar,” Ahlibank said. vision coverage grew stronger to 151% The major drivers supporting this ence; Bonds/Loans & Sukuk Middle East Conference; Liquid assets as a percentage to to- from 126% in December 2015, Ahl- rating include Qatar’s solid macro the 5th Annual Investor Relations Conference; the 2nd tal assets stood at 27.8% in December ibank said. profi le, strong asset quality, which Middle East SME Forum; the Capital Markets Confer- 2016 compared with 23.7% in Decem- On the full-year results of 2016, compares favourably against global ence; Qatar University’s 10th Career Forum, and Qatar ber 2015, despite “tight liquidity” in Ahlibank chairman and managing peers, improved funding mix, as well Central Bank’s Annual Information Security Conference. the region. director Sheikh Faisal bin Abdul- as sound capital and profi tability met- Al Khaliji’s solid performance and remarkable achieve- Total core funding expanded by Aziz bin Jassim al-Thani said, “We rics. Ahlibank’s ratings also factor in ments over the last decade are translated into a slew 28.8% to reach QR31.1bn last year invested in building our brand with the support from Qatari authorities of awards and accolades. They include winning ‘Best compared with QR24.1bn in 2015. The improved market visibility, and have to all banks in the country in case of Premium Bank Service’ by the ‘Banker Middle East’ four funding growth was primarily driven created a solid platform to expand need.” times; claiming the coveted title of ‘Best Private Bank in by a 22.7% growth in customer depos- our product range. Earlier in the year, Sheikh Faisal added, “The 2022 FIFA Qatar’ twice by ‘Global Finance’ magazine, earning the its to QR25bn and a 73% growth in sta- the Junior Savings Account product World Cup in Qatar is our compass for ‘Qatar Bank of the Year’ award by ‘Arabian Business’, ble medium-term funding to QR3.8bn was launched to build longer-term future direction. Forthcoming infra- and Qatar’s ‘Best Bank - Investor Relations’ by ‘Global in December 2016. savings, to meet the needs of the structure development will determine Financial Market’, in addition to the ‘Best Corporate Stable funding as a percentage to emerging youth market, which we the pace of change. Accordingly, we Bank’ award by ‘Banker Middle East’. total liabilities improved to 11.6% in see as currently underserved in the will be rolling out plans to upgrade and Backed by a Fitch rating of A+ and an A3 by Moody’s December last year vis-à-vis 8.1% in Qatar market. In April, the bank suc- overhaul our technology with the view rating with stable outlook, Al Khaliji off ers clients a full December 2015, Ahlibank said. cessfully completed its $500mn de- to minimising obsolescence as well as range of conventional banking products and services Loan-to-deposit ratio improved to but fundraising in the international automating our operational processes. to premium, private, corporate and treasury customers 107% as of December 2016 compared debt capital markets – which was We will invest in human capital for in Qatar, UAE and France. to 118% in December 2015 as a 22.7% 2.4 times oversubscribed 0 to diver- sustained performance.” Al Khaliji’s “award-winning” products and level of service reflect the bank’s belief that to be a “successful” financial institution, the bank must meet the needs of “We invested in building our brand with improved market both this generation and future generations of employ- visibility, and have created a solid platform to expand our ees, customers, investors and business partners. product range,” says Ahlibank chairman and managing Ahlibank’s director Sheikh Faisal bin Abdul-Aziz bin Jassim al-Thani. cost-to-income ratio for 2016 remained Ahlibank proposes 10% cash dividend steady at 30.7%, refl ecting Ahlibank’s board of directors has proposed a cash dividend of effi cient 10%, which translates into QR1 per share and a bonus dividend management of 5% (five new shares for every 100 shares held) as the dividend of operating distribution for the year 2016. expenses The proposal intends to maximise shareholders’ wealth, as well the bank’s internal capital requirements and expansion plans, Ahlibank said yesterday. Al Khaliji is “Qatar’s next generation bank” Qatar PPI edges up in November ’16 By Santhosh V Perumal However, the manufacturing sector, which Qatar SMEs urged to utilise Business Reporter has a weight of 26.8% in the PPI basket, witnessed a 3.5% jump in its index month-on- month in November 2016 because of a 5.1% Notwithstanding the decline in hydrocarbon increase in the price of refined petroleum prices, Qatar’s producer price index (PPI) products, 2.8% in basic chemicals, 1.9% in social media, e-commerce grew 0.4% in November 2016 against the other chemical products and fibres, 1.7% in previous month mainly on higher prices for juices, 1.2% in rubber and plastic products, manufacturing and electricity, according to 0.5% in cement and other non-metallic By Peter Alagos ing exercise because it is the public off icial data. products and 0.3% in beverages. Business Reporter that does it for the company,” he The PPI for the industrial sector – a measure Nevertheless, there was a 1.8% shrinkage explained. of the average selling prices received by in the price of dairy products, 1.6% in basic Also speaking at the panel, the domestic producers for their output metals and 0.1% in grain mill and other aximising the use of so- Doha Bank CEO Dr R Seetharaman – however reported a 5.3% decline year-on- products. cial media platforms and stressed that “e-Solutions are not year in November 2016 primarily on lower The manufacturing sector PPI saw a 3.8% Mdigital technology will options…every country has to rec- prices of crude and natural gas, basic metals, slump year-on-year in November 2016 on not only help Qatar’s small and ognise that digital divide is going to basic chemicals and electricity, according account of an 11.7% plunge in the price of medium-sized enterprises (SMEs) make or break the sustainability of to the figures released by the Ministry of basic chemicals, 10.7% in basic metals, 1.1% in reach a wide range of clients but the economy.” Development Planning and Statistics (MDPS). cement and other non-metallic products and it will also promote growth in the Citing recommendations from MDPS had released a new PPI series in late 0.3% in refined petroleum products.
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