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Qatar First Bank names new CEO

Qatar First Bank names new CEO
Al Obaidli previously held several senior positions including CEO of Ezdan Holding Group
QFB
QFBQ
0.67% 1.81 0.01

Mubasher: Qatar First Bank (QFB) on Tuesday announced appointing Ali Al-Obaidly as its CEO, according to the lender’s statement to the Qatar Stock Exchange (QSE).

Al Obaidli previously held several senior positions including CEO of Ezdan Holding Group, chairman of Widam Foodstuff Company and chairman of Nuzul Holding Company.

He was also a board member of Barwa Real Estate Company, Qatar International Islamic Bank (QIIK), Al Rayan Bank and QFB as well as some Islamic insurance institutions, such as Qatar Islamic Insurance and Al-Daman Insurance Company (Beema).

QFB’s losses rose 13.9% year-on-year to QAR 71.67 million ($19.69 million) in the third quarter of 2018, from QAR 62.93 million ($17.28 million) in the year-ago period.

During the first nine months of 2018, the Qatari lender’s losses leaped 204.8% to QAR 425.54 million, compared to QAR 139.6 million in the same period in 2017.

QFB’s stock edged up 0.25% to close at QAR 4.03 on Tuesday.