Mubasher: Ahli Bank on Thursday reported a 5.1% year-on-year rise in its profits during the fourth quarter of 2018, registering QAR 127.75 million ($35.26 million) from QAR 121.51 million ($33.53 million).

For the full year 2018, the Qatari lender’s profit amounted to QAR 665.56 million, 4% up from QAR 639.71 million in the previous year, according to a statement to the Qatar Stock Exchange (QSE).

Earnings per share (EPS) stood at QAR 3.16 by the end of 2018, compared to QAR 3.04 in the prior-year period.

Ahli Bank said that its board of directors had endorsed the 2018 budget and recommended the payment of a 10% cash dividend of the lender’s capital, along with distributing 10% bonus shares.  

The distributions are subject to the Qatar Central Bank’s (QCB) approval, the statement added. 

During the first nine months of 2018, Ahli Bank’s profits grew 3.8% to QAR 537.9 million, from QAR 518.2 million in the same period a year earlier.

The bank’s stock dipped 1.33% to QAR 27.41 by the end of Wednesday’s trading session.