DOHA: Shareholders of Barwa Bank ratified all the items on the agenda of its Annual General Meeting (AGM), including the Board’s recommendation to distribute a cash dividend of 10 percent (QR1 per share) to shareholders for the last financial year ended December 31, 2015. The AGM held yesterday was presided over the Bank’s Chairman, Sheikh Mohammed bin Hamad bin Jassim Al Thani.
The bank had reported a strong performance in asset growth of 18.3 percent in the last financial year exceeding QR45bn, driven by a strong growth in the finance portfolio that reached QR28.5bn with a growth rate of 22.6 percent.
Customer deposits reached QR25.5bn with a 16.5 percent growth rate.
The new board of directors for the years 2016-2018 was appointed as follows: Sheikh Mohammed bin Hamad bin Jassim Al Thani, Abdul Aziz Mohammed Hamad Al Al Mana , Sultan Yousef Al Sulaiti, Abdulla Abddul Aziz Alsubayi and Said Muzkir Al Hajiri.
The Group posted strong growth in each of the financial position and profits, as the net profit for 2015 rose by QR729.7m and earnings per share reached QR 2.46. The growth in the Group’s business and the increase in its funding and investment activities go in line with maintaining asset quality and risk management policies, with total non-performing assets falling to 1.4 percent from 1.6 percent in 2014.
The Peninsula
DOHA: Shareholders of Barwa Bank ratified all the items on the agenda of its Annual General Meeting (AGM), including the Board’s recommendation to distribute a cash dividend of 10 percent (QR1 per share) to shareholders for the last financial year ended December 31, 2015. The AGM held yesterday was presided over the Bank’s Chairman, Sheikh Mohammed bin Hamad bin Jassim Al Thani.
The bank had reported a strong performance in asset growth of 18.3 percent in the last financial year exceeding QR45bn, driven by a strong growth in the finance portfolio that reached QR28.5bn with a growth rate of 22.6 percent.
Customer deposits reached QR25.5bn with a 16.5 percent growth rate.
The new board of directors for the years 2016-2018 was appointed as follows: Sheikh Mohammed bin Hamad bin Jassim Al Thani, Abdul Aziz Mohammed Hamad Al Al Mana , Sultan Yousef Al Sulaiti, Abdulla Abddul Aziz Alsubayi and Said Muzkir Al Hajiri.
The Group posted strong growth in each of the financial position and profits, as the net profit for 2015 rose by QR729.7m and earnings per share reached QR 2.46. The growth in the Group’s business and the increase in its funding and investment activities go in line with maintaining asset quality and risk management policies, with total non-performing assets falling to 1.4 percent from 1.6 percent in 2014.
The Peninsula
