Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi- Al Khaliji posts QR109m net profit  Join our daily free Newsletter

MENAFN - Arab News - 30/04/2014
No. of Ratings : 0
Add to Mixx!


(MENAFN - Arab News) Al khaliji (kcbk) reported a net profit of qr109 million for the first quarter ended march 31. loans and advances grew by 11 percent during the quarter to reach qr22.9 billion and net interest income increased by 12 percent. the acceleration in sustainable recurring revenues is in line with the bank's strategy to progressively rely less on investment gains for future growth in favor of increased proceeds from a growing banking franchise.

"al khaliji is starting the year with a solid financial performance supported by a growing banking franchise. following the group's strong performance in 2013 it was expected that investment returns would be more muted this year given the developments in quantitative easing and us treasury rates. protecting the net margin by adopting a prudent hedging strategy for our fixed income revenue streams and growing our franchise with quality assets remain among r primary objectives" said rob mccall group ceo al khaliji.



al khaliji france sa's net profit reached qr16.3 million up 5 percent compared to q1 2013 and represents 15 percent of the group's net income.

net profit for the first quarter of this year is qr109.2 million compared to qr131.5 million for the same period in 2013.

net interest income increased by 12 percent to qr165.9 million over the prior quarter. net fee and commission income of qr37.8 million grew by 11 percent on q4 2013; however it is qr9.4 million lower year-on-year owing to non-recurring revenues. this reduction flows through on a first quarter comparative basis to net operating income which is qr213.8 million.

income from the banking franchise now accounts for 92 percent of profits compared to 81 percent last year reflecting a growing book with less reliance on investment income which made up 19 percent in q1 2013.


 


Arab News




  MENA News Headlines
 Mar 23 2017 - Kuwait- EU welcomes resumption of Syria talksKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) BRUSSELS, March 23 (KUNA) -- The European Union welcomed Thursday the resumption of talks between the Syrian parties in Geneva this week as an "essential step on ...

 Mar 23 2017 - Kuwait- French FM warns against tide of global dangersKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) PARIS, March 23 (KUNA) -- French Foreign Minister Jean-Marc Ayrault on Thursday warned against the rising tide of global dangers, illustrated by the terrorist ...

 Mar 23 2017 - Kuwait- London attack underscores dynamic environment in Europe - top military officialKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) WASHINGTON, March 23 (KUNA) -- A senior US military official stressed here Thursday that the attack in London underscores the "dynamic environment" in Europe. ...

 Mar 23 2017 - Kuwait- KFAED, Ivory Coast sign KD 5-mln loan agreementKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) KUWAIT, March 23 (KUNA) -- The Kuwait Fund for Arab Economic Development (KFAED) and Ivory Coast have signed a loan agreement worth KD five million (USD 17 ...

 Mar 23 2017 - Kuwait- Economic, social council agrees draft agenda of Arab summitKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) DEAD SEA, Jordan, March 23 (KUNA) -- The Arab Economic and Social Council concluded its senior-level meeting here on Thursday after working out draft resolutions ...

 Mar 23 2017 - Kuwait- UNSC extends Panel of Experts assisting DPRK's sanctions' cmteKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) NEW YORK, March 23 (KUNA) -- UN Security Council renewed the mandate of the Panel of Experts assisting the sanctions' committee amid the threat the Democratic ...

 Mar 23 2017 - Kuwait- Senate confirms David Friedman as US ambassador to IsraelKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) WASHINGTON, March 23 (KUNA) -- The Senate on Thursday confirmed attorney David Friedman as the Trump administration's new US ambassador to Israel with a 52-46 ...

 Mar 23 2017 - Kuwait- UNSC calls for immediate ceasefire in S. SudanKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) NEW YORK, March 23 (KUNA) -- UN Security Council called Thursday for immediate adherence to the permanent ceasefire by all parties to the conflict in South Sudan. ...

 Mar 23 2017 - Kuwait- UNSC condemns DPRK's ballistic missile testsKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) NEW YORK, March 23 (KUNA) -- UN Security Council strongly condemned the ballistic missile test-launch and missile engine test, recently conducted by the ...

 Mar 23 2017 - Kuwait- Briefing of KUNA main news for Thursday until 00:00 GMTKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) BAGHDAD - "Kuwait beside You" campaign distributes assistance to displaced Iraqi widows. DEAD SEA - The Arab Economic and Social Council approves ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Search News
Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help