Al Khalij Commercial Bank Reports H1 Net Profit of QR335 Million

Doha, July 19 (QNA) - Al Khalij Commercial Bank announced Thursday its financial results for the first six months of 2018, reporting a Net Profit of QR 335 million. This was driven by growing operating income, effective cost management leading to lower operating expenses. Chairman and Managing Director stated HE Sheikh Hamad Bin Faisal Bin Thani Al-Thani said that "Al khaliji continues to achieve robust profit due to the added momentum of our Qatar-centric medium term strategy. Our prudent risk management practices coupled with strong capital position have laid a solid foundation for future growth. Qatar continues to be an attractive market for investors and we remain well positioned to capture future growth" For his part, al khalijis Group Chief Executive Officer Fahad Al Khalifa said: "al khaliji is reporting a growing and consistent set of results for the first half of 2018, as we carefully navigate and capitalize on opportunities in the domestic economy during 2018. These results are reflective of our focus on growing operating income, efficiently managing our cost base and deploying our balance sheet in line with our risk appetite. With these efforts, we are pleased to report a half-yearly net profit of QAR 335 million, which is 5 percent higher year on year." (QNA)