QIB, Ahli bank report higher profits

Ahli Bank discloses the preliminary financial statements for the year ended December 31, 2011. The preliminary financials revealed a net profit of QR442.2 million in 2011 versus QR 412.3 million in 2010 and the Earnings per Share (EPS) amounted to QR 6.39 in 2011 compared to QR 6.48 in 2010. The Board of Directors also approved the budget and recommended the distribution of Gratuitous shares 60 % from the Bank capital on 31/12/2011 subject to the approval of QCB and the General Assembly Meeting, according Ahli Bank said in a statement pblished today at Qatar Exchange (QE) website. Furthermore the Board of directors had decided to Increase the Bank Capital through issuing a new shares for underwriting for 20% of the bank Capital ( after increased with Gratuitous shares) according to the Terms and condition that will be disclosed after obtaining the necessary approval & the General Assembly Meeting. While Qatar Islamic Bank (QIB) ''s preliminary financial statements for the year ended December 31, 2011revealed a net profit of QR1.3 Billion in 2011 and the Earnings per Share (EPS) amounted to QR 5.87 in 2011, according to QE . QIB Board of Directors proposed a 45 % Cash Diviend Distribution to shareholders, subject to the approval of Qatar Central Bank and to be discussed in the next meeting of QIB General Assembly. (QNA)