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
 May 30 2015 - Etihad Airways profits double to USD73m in 2014MENAFN
(MENAFN) Etihad Airways said its profit rose by more than half to USD73 million last year as it carried more passengers and used its stakes in other airlines, Arab News reported.The government-backed ...

 May 30 2015 - Saudi's SAMA net assets down to USD678.8b in AprilMENAFN
(MENAFN) Net foreign assets at Saudi Arabian Monetary Agency fell to USD678.8 billion in April, down by USD11.8 billion or 1.7 percent from March, Arab News reported.Assets dropped 6.8 percent from a ...

 May 30 2015 - Oman to invest USD7b in Indonesia projectMENAFN
(MENAFN) Oman has committed to invest USD7 billion to build oil storage facilities, a petrochemical plant and a refinery in Indonesia, Arab News reported.Oman also agreed to supply crude oil to the ...

 May 30 2015 - Qatar- Preparations for 2022 World Cup to continueThe Peninsula
(MENAFN - The Peninsula) Qatar yesterday defended its successful bid for the 2022 Fifa World Cup and said it was moving forward with preparations to host the event. Qatar will "cooperate fully with ...

 May 30 2015 - IS seizes control of airport in Libya's Sirte: Tripoli govtThe Peninsula
(MENAFN - The Peninsula) The Islamic State jihadist group has seized control of the airport in the city of Sirte after forces of a Tripoli-based Libyan government withdrew, a spokesman said Friday. ...

 May 30 2015 - 4 dead as Saudi 'foils' attack on Shiite mosque: ministryThe Peninsula
(MENAFN - The Peninsula) A car blast outside a Saudi mosque during Friday prayers killed four people, including its driver, in an attack that was "foiled" by the authorities, the interior ministry ...

 May 30 2015 - Iraq- 85,000 flee Ramadi since IS capture: UNThe Peninsula
(MENAFN - The Peninsula) Around 85,000 people have fled Ramadi since the Islamic State group captured the Iraqi provincial capital two weeks ago, the UN said Friday, warning that Iraqi authorities ...

 May 30 2015 - IS bombs second Saudi Shiite mosque, killing 3The Peninsula
(MENAFN - The Peninsula) An Islamic State jihadist killed three people Friday when he blew himself up in a car outside a Shiite mosque in Saudi Arabia, the second such attack in a week. The bombing, ...

 May 30 2015 - Huthi rebels kill Yemen capital's governor: relativesThe Peninsula
(MENAFN - The Peninsula) Yemen's Shiite Huthi rebels have killed the capital's governor in clashes that erupted during an attempt to detain him, his relatives said Friday. Sanaa governor Abdulghani ...

 May 30 2015 - Yemen's Saleh says Saudi offered him 'millions' to fight HuthisThe Peninsula
(MENAFN - The Peninsula) Yemen's ex-president Ali Abdullah Saleh said in an interview broadcast Friday he had rejected "millions of dollars" Saudi Arabia offered him if he stood up to the Shiite ...

more...


 






Google

 
 

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