Al Khalij Commercial Bank (al khaliji) Q.S.C. held its Annual General Assembly (AGA) and its Extraordinary General Assembly (EGA) meetings on Wednesday .
During the Extraordinary General Assembly meeting, the shareholders approved the proposed amendment to Article (7) of the Articles of Association of the Bank by adding a provision to read as follows: "Qatar Holding LLC has replaced Qatari Diyar Real Estate Investment Company in performing all its authorities and rights". This follow the transfer of all shares owned by Qatari Diar Real Estate Investment Company to Qatar Investment Authority (QIA), represented by Qatar Holding LLC, after completing all regulatory requirements for this transaction.
The shareholders approved the 2014 financial statements which reflect a Net Profit After Tax of QAR 562.9 million as of 31 December 2014, up from QR 550.9 in 2013.
Sheikh Hamad Bin Faisal Bin Thani Al-Thani, Chairman and Managing Director of al khaliji, presented the Board of Directors’ report on the Bank’s activities and financial position for the year ended 31 December 2014.
Commenting on the 2014 activities, Sheikh Hamad said: "In 2014 we continued to implement our clear goal, outlined in our three year strategy 2013-2015, to be a unique specialist bank with a smart way of competing in relevant banking markets. This transparent process provides our stakeholders with confidence in the long-term returns available as we continue to support the economic growth agenda of Qatar and the National Vision 2030".