Al Khaliji announces its September 2008 financial results
• 9 months operating income increased 80% from the same period in 2007
• 300% increase in loans, advances and financing activities for the quarter
• 64% increase in net income for the quarter
Al khaliji, headquartered in Doha, Qatar, today unveiled its third quarter financial results for 2008. Year to date September net income was QAR 21.2mm and total assets reached QAR 7.8bn.
David Proctor, al khaliji Chief Executive Officer commented “The impact from launching our first retail branches less than 3 months ago has been immediate. Customer deposits increased QAR 936mm in the quarter and customer loans, advances and financial activities now total QAR 4.86bn. The global financial crisis offers tremendous opportunities for a new, well capitalized bank like al khaliji and customers and shareholders can expect to see further expansion in our branch network before the year end. Our Corporate and Islamic Banking businesses are also very active so I’m delighted with our progress – and very proud of the special staff we have at al khaliji !”
