Chairman’s Message

Sheikh Fahad Bin Mohammad Bin Jabor Al Thani

In the Name of God, Most Gracious, Most Merciful,
Dear Shareholders,
Ladies & Gentlemen,
Al Salamu Alaykum…

On behalf of myself and the members of the Board of Directors (BOD), I would like to express my heartfelt gratitude for your participation in the Ordinary General Assembly Meeting to discuss the topics on the agenda.

Please let me share with you the financial results of the bank for this year. According to the audited financial statements for the year 2023, the bank was able to achieve decent financial results, where the total assets reached QR 101.3 billion to grow by 3.7% as compared to the previous year, the net loans and advances was QR 58 billion.

The Bank achieved a growth in the Private Sector Lending of 5%, the total value of the investment portfolio was QR 30.4 billion recording a growth of 21.7% year-on-year, the total amount of customer deposits reached QR 51.6 billion to grow by 2.9% as compared to the previous year, and the total amount of shareholders’ equity reached QR. 14.4 billion showing an increase of 2.6% as compared to last year.

The income statement shows that the net profit at the end of the year amounted to QR 769 million. The average return on share stood at QR. 0.25 and the return on average shareholders’ equity reached 5.7% and the return on average assets amounted to 0.8%. Based on these results, the BOD decided to present a recommendation at the AGM to distribute cash dividends to the shareholders at QR 0.075 per share.

We would like to express our gratitude to the Group CEO and the bank’s management and staff for their concerted efforts in achieving positive results that benefit the bank’s financial position.

On behalf of the Board of Directors and myself, I would like to extend my sincere thanks and gratitude to H.H. The Emir, Sheikh Tamim Bin Hamad Al-Thani, H.E. The Prime Minister and Minister of Foreign Affairs, Sheikh Mohammed bin Abdulrahman Al Thani, H.E. The Minister of Finance, Mr. Ali Bin Ahmed Al Kuwari, H.E. The Minister of Commerce and Industry, Sheikh Mohammed Bin Hamad Bin Qassim Al Thani, and H.E. The QCB Governor, Sheikh Bandar Bin Mohammed Bin Saud Al-Thani, and to all officials of Qatar Central Bank, the Ministry of Commerce and Industry, Qatar Financial Markets Authority and Qatar Exchange for their continued cooperation and support.

Many thanks and appreciation to all of our shareholders and customers for their confidence in the bank, and we look forward to continued growth and prosperity.

Fahad Bin Mohammad Bin Jabor Al-Thani