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QNB board approves issue of dividends, bonus shares.

MOUSHMI DAS

DOHA THE QNB's net profit for 2010 stood at QR5.7 billion.

This represented a rise of 35.8 percent over its 2009 level.

The group's total assets rose 24.6 percent to reach QR223.4 billion according to the bank's audited financial results for the year ended December 31 approved by its ordinary general assembly on Sunday.

The general assembly also ratified the board of directors recommendation to distribute a cash dividend of 50 percent of the nominal share value, along with the distribution of bonus shares equivalent to 30 percent of the share capital.

During the meeting, the Chairman of QNB Group's Board of Directors HE Yousef Hussain Kamal, presented an overview of the Bank's activities and financial results for 2010, along with highlights of business plans for the year 2011.

He said the group was able to deliver outstanding financial results for 2010, driven by the on-going expansion across the range activities.

The extra-ordinary general assembly approved, among other things, issuance of new shares, after the first quarter of 2011, amounting to 25 percent of share capital amounting to 1 share for every 4 shares held at a price of QR100 per share including the nominal share value of QR10 per share and a premium of QR90.

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Publication:Qatar Tribune (Doha, Qatar)
Date:Jan 31, 2011
Words:226
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