Lesha Bank LLC (QFBQ) Earnings Call Transcript & Summary

[Foreign Language] Rajesh Bansal. Rajesh?

Hi, good afternoon, everyone. I'm pleased to present the results of Qatar -- of Lesha Bank to our investors for the 9-month period ended 30th September 2022. The net profit for Lesha Bank shareholders for the 9 months of the current year is QAR 63.5 million, which is 2.5% more than the same period in the previous year. The dividend and fee income, which is a source of recurring income grew significantly from QAR 20.4 million in the 9 months of 2021 to QAR 59.2 million in the current year 9 months same period. The Bank's assets have grown by 23%, that is by QAR 1.3 billion in the 9 month period. The Bank optimized its asset book by deploying funds in [ profit-leading ] instruments. Further, the Bank exited Jefferson Square in Maryland, U.S.A. delivering more than 8% IRR for its investors. We acquired Gateway Plaza in Virginia, U.S.A. and successfully syndicated to our investors. The Bank raised equity capital of QAR 500 million in the current year, which has boosted the capital adequacy to a healthy 29.2%. With this, I open the floor to -- for any questions.

[Foreign Language] After presenting the results related to Q3 2022 by Mr. Rajesh Bansal, we're now opening the floor for any questions or inquiry for the investors for the coming 10 minutes. [Foreign Language]

Hi. Good afternoon, everyone. I would just like to repeat what I've said for the benefit of anyone who have joined a bit late. I'm pleased to present the results of Lesha Bank to our investors for the nine-month period ended 30th September 2022. The net profit for Lesha Bank shareholders for the nine months of the current year is QAR 63.5 million, which is 2.5% more than the same period of the year 2021. The dividend and fee income grew significantly from QAR 20.4 million in the previous year to QAR 59.2 million in the current year in the 9-month period. The Bank's assets have grown by 23%, that is by QAR 1.3 billion in the 9-month period. The Bank optimized its asset book by deploying funds in profit-leading instruments. The Bank exited Jefferson Square in Maryland, U.S.A., delivering more than 8% IRR to our investors. Further, we acquired Gateway Plaza in Virginia U.S.A. and successfully syndicated it to our investors. The Bank raised equity capital of QAR 500 million, which has boosted the capital adequacy to a healthy 29.2%. With this, I'm open for any questions.

[Foreign Language].