(MENAFN- Qatar News Agency) Al Khalij Commercial Bank (al khaliji) reported a net profit of QR 550.9 million as of 31 December 2013, 7.6% higher than last year.
The Bank announced the 2013 financial statements during its Annual General Assembly (AGA) and its Extraordinary General Assembly (EGA) meetings held on Sunda
During the annual general assembly meeting, the shareholders approved the 2013 financial statements which reflect a Net Profit After Tax of QR 550.9 million as of 31 December 2013, 7.6% higher than last yea
HE Sheikh Hamad Bin Faisal Bin Thani Al-Thani, Chairman and Managing Director of al khaliji, presented the Board of Directors' report on the Bank's activities and financial position for the year ended 31 December 2013. Commenting on the 2013 activities, His Excellency said: "2013 was the initial year in our new mid-term strategy and it was important for us to prioritize and deliver on certain objectives during the year to ensure we are well positioned to continue gathering momentum to grow our commercial franchise in our chosen markets with our preferred customer
The long term impact of these achievements will strengthen our business model in a manner that enables sustainable revenue streams into the future and ultimately benefits our shareholders." During the meeting, the shareholders of al khaliji reviewed and endorsed the External Auditor's Report on the Bank's financial position and the accounts submitted by the Board of Directors for 2013. They also endorsed the Board recommendation to distribute cash dividends of 10% of the Bank's paid-up capital i.
QR 1 per shar
During the Extraordinary General Assembly meeting, the shareholders approved the proposed amendments to the Bank's Articles of Association as published on al khaliji's website. The key change being the increase of the foreign ownership limit from 25% to 49% of the bank's listed share
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