Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Qatar- Al Khaliji posts QR109m net profit  Join our daily free Newsletter

MENAFN - Arab News - 27/04/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) Al khaliji (kcbk) reported a net profit of qr109 million for the first quarter ended march 31. loans and advances grew by 11 percent during the quarter to reach qr22.9 billion and net interest income increased by 12 percent. the acceleration in sustainable recurring revenues is in line with the bank's strategy to progressively rely less on investment gains for future growth in favor of increased proceeds from a growing banking franchise.

"al khaliji is starting the year with a solid financial performance supported by a growing banking franchise. following the group's strong performance in 2013 it was expected that investment returns would be more muted this year given the developments in quantitative easing and us treasury rates. protecting the net margin by adopting a prudent hedging strategy for our fixed income revenue streams and growing our franchise with quality assets remain among our primary objectives" said rob mccall group ceo al khaliji.

al khaliji france sa's net profit reached qr16.3 million up 5 percent compared to q1 2013 and represents 15 percent of the group's net income.

net profit for the first quarter of this year is qr109.2 million compared to qr131.5 million for the same period in 2013.

net interest income increased by 12 percent to qr165.9 million over the prior quarter. net fee and commission income of qr37.8 million grew by 11 percent on q4 2013; however it is qr9.4 million lower year-on-year owing to non-recurring revenues. this reduction flows through on a first quarter comparative basis to net operating income which is qr213.8 million.

income from the banking franchise now accounts for 92 percent of profits compared to 81 percent last year reflecting a growing book with less reliance on investment income which made up 19 percent in q1 2013.


 


Arab News




  MENA News Headlines
 Apr 1 2015 - UAE's TAQA records USD820m net loss in 2014MENAFN
(MENAFN) Abu Dhabi National Energy Co (TAQA) registered USD820 million losses for 2014, against a similar USD685.94 million in 2014 due to falling oil prices, Arabian Business reported.The ...

 Apr 1 2015 - UAE's The Luxury Closet obtains USD2.2m fundMENAFN
(MENAFN) Dubai-based The Luxury Closet, launched in 2011, reported the securing of USD2.2 million finances from its local venture capital investors, Arabian Business reported.The online platform, ...

 Apr 1 2015 - UAE economy forecasts USD400b food imports in 10 yearsMENAFN
(MENAFN) The UAE government expects that the food industry imports will increase to USD400 billion in ten years' time, marking a jump from 2014's USD100 billion, according to the UAE Minister of ...

 Apr 1 2015 - Canada's parliament votes to extend, expand anti-Daesh air strikes in SyriaJordan News Agency
(MENAFN - Jordan News Agency) Canada's parliament Monday has voted to extend air strikes against Daesh in Syria, in coordination with the United States.Federal MPs voted 142-129 in favor of a motion ...

 Apr 1 2015 - China completes evacuation of its nationals from YemenJordan News Agency
(MENAFN - Jordan News Agency) China completed on Tuesday the evacuation of its nationals from Yemen, with more than 570 people safely transported across the Red Sea to Djibouti to be flown ...

 Apr 1 2015 - Palestinian students suffocate by Israeli tear gasJordan News Agency
(MENAFN - Jordan News Agency) A number of Palestinian students Tuesday suffocated by tear gas fired by Israeli soldiers near Bethlehem.Member of Tekoa's village municipality, Zuhair Al-Shaer, told ...

 Apr 1 2015 - Israel demolishes room, fences in Wadi Al-Joz in JerusalemJordan News Agency
(MENAFN - Jordan News Agency) Israeli occupation forces on Tuesday bulldozed an area where Muslims perform their wudu (ablution) and a room in the Wadi Al-Joz neighborhood, north of occupied ...

 Apr 1 2015 - Floating storage and regasification unit arrives in Aqaba on May 25: ministerJordan News Agency
(MENAFN - Jordan News Agency) The floating storage and regasification unit (FSRU), which was leased for the liquefied natural gas terminal in Aqaba Port, will arrive in Aqaba on May 25, Minister of ...

 Apr 1 2015 - Treasury receives $57 million final payment of US grantJordan News Agency
(MENAFN - Jordan News Agency) The United States Agency for International Development (USAID) transferred to the Treasury account the second installment, its final payment, amounting to $57 million ...

 Apr 1 2015 - Third International Humanitarian Pledging Conference for Syria starts in KuwaitJordan News Agency
(MENAFN - Jordan News Agency) The Third International Humanitarian Pledging Conference for Syria opened in Kuwait on Tuesday with the participation of delegations from 78 countries and 40 ...

more...


 






Google

Arab Advisors_12th convergence conf

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help