DOHA: al khaliji is planning to launch Islamic banking activities with focus on wholesale business next year, the bank's Chairman and Managing Director, Sheikh Hamad bin Faisal bin Thani Al Thani said yesterday.
Speaking at the first Annual General Assembly of al khaliji's shareholders, Sheikh Hamad Bin Faisal said: "We are looking forward to launching our Islamic banking activities which will focus on the wholesale business for the coming year."
He also said the bank has obtained approval from Qatar central bank (QCB) to open more than three branches in Qatar in addition to a number of ATMs.
al khaliji, comprising al khalij Commercial Bank (Q.S.C), al khaliji Services Limited and BLC Bank (France) S.A recorded a consolidated Net Profit After Tax of QR103.57m for the period ended December 31, 2008 and Total Assets of QR12.5bn. Loans and advances granted reached QR6.98bn, while customer deposits amounted to QR4.67bn.
"Whilst we are entering a new banking era, we firmly believe al khaliji is in a strong position because of its relative youth, a confidence which is echoed by the shareholders. Our financial position is strong and our customer deposits are growing at a fast rate. With our recent purchase of 100 percent share capital of BLC Bank (France) S.A., we are also well positioned to take our success across borders to France and the UAE," said Sheikh Hamad bin Faisal. "We are entering a new banking era, and al khaliji has proven that it is in a position of strength that allows it to face the current global financial crisis."
He added that al khaliji has witnessed remarkable growth in its retail banking sector with its corporate banking team concluding high-profile transactions throughout the region Sheikh Hamad bin Faisal also said the number of Qatari employees at al khaliji has been constantly growing representing currently 22 percent of the total employees.
"Day after day, al khaliji becomes the centre of attraction for national talents seeking a professional environment that meet their expectations and ambitions," he said. He said post acquisition of BLC (France) S.A al khaliji family has expanded to comprise over 500 employees from 38 different nationalities.
By Naseer Al Harthy
© The Peninsula 2009
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