DUBAI: Masraf Al Rayan, Qatar’s largest Shariah-compliant bank by market value, said yesterday that it had completed its acquisition of Islamic Bank of Britain (IBB). Al Rayan did not disclose the terms of the purchase.
IBB was majority-owned by another Qatari lender, Qatar International Islamic Bank, which had been in discussions with Al Rayan over a sale since mid-2012. Al Rayan said in a bourse filing that it had received approval from investors holding 95 percent of IBB’s share capital for the sale. The British regulator has approved the deal, the statement added. Reuters
Ahli Bank nets QR525.7m profit
DOHA: Ahli Bank recorded a full-year net profit of QR525.7m in 2013, up from QR465.2m reported during the same period in 2012. The bank’s earnings per share amounted to QR4.14 in 2013 compared to QR3.88 in 2012. The board of directors also approved the budget and recommended the distribution of bonus shares 30 percent from the capital shares of the bank on December 31, 2013 subject to the approval of QCB and the General Assembly Meeting.
Alijarah records QR87.2m net profit
DOHA: Alijarah Holding Company’s net profit for 2013 full-year slipped to QR87.2m compared to the net profit for same period in 2012. The company recorded a net profit of QR190m in 2012. The earnings per share also dropped to QR1.76 in 2013 from QR4.21 in 2012. The Board of Directors has proposed the General Assembly to distribute QR1.5 per share as dividend. The company’s AGM has been scheduled on February 12, 2014.
The Peninsula
