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Tribune News Network
Doha
The board of directors of the Al Khalij Commercial Bank (al khaliji) approved a cash dividend of 7.5 percent or QR0.075 per share at its annual general meeting (AGM) held in Doha on Sunday.
The shareholders endorsed the financial statements for the fiscal year that ended on December 31, 2019, which reflected a net profit after tax of QR646 million.
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 2019 and future plans. “The year 2019 was another successful year for al khaliji at all levels. We continued our growth in Qatar thanks to the prudent economic policies and the stable financial system of the State of Qatar,” he said.
“Stability and sustainability were key drivers for growing our balance sheet while managing risk cautiously. In 2019, the board approved a new mid-term strategy that aims at achieving sustainable growth, creating added value for all stakeholders and providing better customer service while enhancing and promoting al khaliji’s reputation in the banking sector.
“2019 marked a significant milestone in the development of the Bank as we inaugurated our new purpose-built head office, the al khaliji Tower, in the heart of Lusail City. Shifting to our new headquarter supports our strategy to build on our growth and deliver improved services to our customers. With our strong financial position, sustainable profitability and market share, al khaliji is well positioned to achieve excellence in the market.”
During the meeting, the shareholders reviewed and endorsed the external auditor’s report on the bank’s accounts.
Furthermore, the shareholders reviewed and endorsed the External Auditor’s Report on the requirements of Article (24) of the Corporate Governance Code of Companies and Legal Entities Listed on the Primary Market issued by Qatar Financial Markets Authority concerning the bank’s compliance with the Corporate Governance regulations and Internal Control over Financial Reporting.
They also discussed and endorsed the 2019 Corporate Governance Report including the remuneration policy of the Board and Senior Management. They approved the appointment of Deloitte and Touch as external auditors for the fiscal year 2020.
Doha
The board of directors of the Al Khalij Commercial Bank (al khaliji) approved a cash dividend of 7.5 percent or QR0.075 per share at its annual general meeting (AGM) held in Doha on Sunday.
The shareholders endorsed the financial statements for the fiscal year that ended on December 31, 2019, which reflected a net profit after tax of QR646 million.
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 2019 and future plans. “The year 2019 was another successful year for al khaliji at all levels. We continued our growth in Qatar thanks to the prudent economic policies and the stable financial system of the State of Qatar,” he said.
“Stability and sustainability were key drivers for growing our balance sheet while managing risk cautiously. In 2019, the board approved a new mid-term strategy that aims at achieving sustainable growth, creating added value for all stakeholders and providing better customer service while enhancing and promoting al khaliji’s reputation in the banking sector.
“2019 marked a significant milestone in the development of the Bank as we inaugurated our new purpose-built head office, the al khaliji Tower, in the heart of Lusail City. Shifting to our new headquarter supports our strategy to build on our growth and deliver improved services to our customers. With our strong financial position, sustainable profitability and market share, al khaliji is well positioned to achieve excellence in the market.”
During the meeting, the shareholders reviewed and endorsed the external auditor’s report on the bank’s accounts.
Furthermore, the shareholders reviewed and endorsed the External Auditor’s Report on the requirements of Article (24) of the Corporate Governance Code of Companies and Legal Entities Listed on the Primary Market issued by Qatar Financial Markets Authority concerning the bank’s compliance with the Corporate Governance regulations and Internal Control over Financial Reporting.
They also discussed and endorsed the 2019 Corporate Governance Report including the remuneration policy of the Board and Senior Management. They approved the appointment of Deloitte and Touch as external auditors for the fiscal year 2020.
