Al Khaliji Reports 3Q 2021 Results Following Shareholder Approval for Merger with Masraf Al Rayan

Qatar-based Al Khalij Commercial Bank (Al Khaliji) reported its third-quarter results for 2021 (3Q 2021), with net profits year-to-date reported at QAR 561 million, up over 3% year-on-year (YoY). Loans and deposits grew 11% and 7% YoY, respectively during the period, with total assets at QAR 58.5 billion, up 6% YoY.

Why it Matters?

The announcement of the 3Q 2021 results comes shortly after Al Khaliji’s shareholders approved its merger with Masraf Al Rayan at an Extraordinary General Meeting on the 6th of October 2021. Sheikh Hamad bin Faisal bin Thani Al Thani, Chairman and Managing Director at Al Khaliji stated that these positive results and healthy capital, position the bank well to enable the creation of a larger merged entity that will con...