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.

Barwa Bank Group (BBG) recently held its “Business Excellence” awards ceremony to honour the group’s best performers. The awards have been established to recognise the effort and contribution of employees and to motivate and inspire the team. The initiative is part of a commitment to training and development by the bank management to empower staff and ensure that Barwa Bank Group continues to be a major contributor to the financial services sector in Qatar and the region.