IslamicFinance.de

Barwa Bank Group held its annual general meeting (AGM) on the 14th April at which the financial results for 2012 were approved and a new Board of Directors was elected. The Chairman, H.E. Sheikh Mohamad Bin Hamad Bin Jassim Al Thani, gave a detailed report on the bank's activities, and highlighted the group's strong growth in both balance sheet and profitability. The bank's net income for 2012 increased by 41% to QR345m, total assets increased by 32% to reach QR25.3bn. Following the AGM, Barwa Bank Group also held an Extraordinary General Meeting (EGM) to approve QR1bn in additional capital through a Rights Issue of 50 million shares at QR20 per share and an Initial Public Offering of 50 million shares at QR21 per share.