Lesha Bank LLC (QFBQ) Earnings Call Transcript & Summary

Good afternoon, everyone. I'm pleased to present the results of Qatar First Bank to our investors for the half year ended June 2022. The net profit for QFB shareholders for the first 6 months of the current year is QAR 42 million, which is 2.6% more than the same period of the last year. The dividend and fee income grew significantly from QAR 10.6 million in the last year to QAR 44.6 million in the current year. The bank's assets have grown by 39%. That is QAR 1.26 billion in the 6-month period. The bank optimized its asset book by deploying funds and profit-yielding instruments. The bank exited Jefferson Square in Maryland U.S.A., delivering more than 8% IRR for the investors. Further, the bank has acquired Gateway Plaza in Virginia U.S.A. In addition to this, the bank has raised equity capital of QAR 379 million in the current quarter, which has boosted the capital adequacy to a healthy 26%. This was the summary of the results for the first 6 months. With this, I open the floor for any questions.

[Foreign Language]

Hi, good afternoon, everyone. I'm pleased to present the results of Qatar First Bank to our investors for the half year ended June 2022. The net profit for QFB shareholders for the first 6 months of the current year is QAR 42 million, which is 2.6% more than the same period of the last year. The dividend and fee income grew significantly from QAR 10.6 million in the last year to QAR 44.6 million in the current year. The bank's assets have grown by 39%. That is QAR 1.26 billion in the 6-month period. The bank optimized its asset book by deploying funds and profit-yielding instruments. The bank exited Jefferson Square in Maryland, U.S.A., delivering more than 8% IRR for the investors. Further, the bank has acquired Gateway Plaza on its real estate portfolio in Virginia, U.S.A. The bank has raised equity capital of QAR 379 million in the current quarter, which has boosted the capital adequacy from 19% to 26%. With this, I open the floor for any questions.

We are opening the floor for the questions for the coming 5 minutes in case if anyone has any question or any inquiry. Thank you.

Thank you, everyone. With this, we close our investor session for the H1 2022.

[Foreign Language]