Ahlibank: Innovative Banking Solutions in an Ever-Challenging Investment Environment

Founded in 1983, Ahli Bank QPSC (Ahlibank) is a Qatari-owned financial institution that serves individual consumers, small businesses and corporate customers with a range of Corporate Banking, Retail & Private Banking, International Banking, Treasury & Investments and Brokerage services. Ahlibank aims to deliver unmatched convenience and personal, simple banking experiences that highlight its tagline “With You.” It has thus seen rapid growth in its client base, and now boasts an integrated network of 12 branches and 89 ATMs in Qatar.

Derek Kwok

Following a year in which the bank outstripped its previous record, achieving a profit of QR 772 million for 2022, and having seen a year-on-year net profit increase of 6.9% in the first three months of 2023 (QR 205 million), Ahlibank was awarded ‘Best Bank for Treasury Services – Qatar’ at the 2023 Global Banking & Finance Review Awards. Derek Kwok, Ahlibank’s Head of Treasury & Investments, spoke with Global Banking & Finance Review editor Wanda Rich about what the award represents and the driving force behind the bank’s strong performance.

“Being named the Best Bank for Treasury Services in Qatar validates our efforts to deliver an outstanding customer experience within a highly competitive banking industry,” Derek said. “We are delighted to receive this global accolade as we continuously work to provide Treasury services that make investment and banking solutions more accessible for our customers. Our goal is to create an outstanding customer experience that delivers the best result and value for our clients. Understanding our clients’ needs is central to creating bespoke solutions that will mitigate their risks and help improve their financial performance. The award is further evidence of our unwavering commitment, excellent performance and client-centric services.”

Derek attributes Ahlibank’s ongoing success to a combination of factors. “The primary reason for our recorded net profit in 2022 is the high-quality core income generated through our focused strategy on acquiring quality assets in Qatar, supported by strong funding fundamentals while following prudent risk management,” he revealed. “Additionally, we know that it is important to offer our clients a wide range of innovative banking products and great services in supporting the local economy’s prosperity. We are embarking on an ambitious strategy with the aim of growing our business and deepening relationships with our customers, meeting more of their financial needs.”

One of the ways in which the bank is addressing those needs is through technological development and the increased use of digital channels. “Ahlibank has expanded its product offerings and invested extensively in technology, and continues to implement its strategy and plan to provide innovative banking solutions,” Derek said. “The introduction of innovative technologies in the services provided to customers remains an integral part of the bank’s objectives.

“This was achieved with the launch of modern methods of mobile payment such as Apple Pay, Google Pay, Samsung Wallet, Fitbit Pay and Garmin Pay, which have been well-received by our customers. The bank continues to invest in technology and expand its product offerings while providing the best services to customers.”

Doing so requires differentiating itself from its peers, and Ahlibank approaches this through a heavy focus on the client, Derek explained, resulting in a highly personalised offering that caters to their growing needs. “One of the key differentiators for Ahlibank’s Treasury Department is its commitment to delivering tailored solutions that address clients’ objectives and mitigate their risks. By taking a client-centric approach, the team is able to gain a deep understanding of each customer’s unique circumstances and develop solutions that are customised to their needs.

“Moreover, we are always looking for innovative ways to improve our offerings, which allows the bank to stay ahead of the curve in such a fast-paced industry. This approach not only benefits our clients but also helps to maintain a competitive advantage over other market players, and through the team’s dedication to providing an exceptional client experience, Ahlibank has been able to maintain and develop strong, long-term relationships with our clients and partners.”

The Treasury Department’s priorities for the rest of this year are largely influenced by the constant changes in the global interest rate environment. Derek spoke on how crucial it is for the Department to remain focused on delivering investment strategies that are aligned with the current market conditions. “In order to maintain the bank’s profitability and growth in an increasingly competitive market, we must think and act outside the box, be that through enhanced customer service, tapping new markets, or the adoption of new financial technologies and innovations,” he said.

“Of course, client services are central to our response to these challenges in order to grow market share and financial performance. By prioritising the needs of our customers and adapting to changing market conditions, Ahlibank can continue to thrive and succeed in an increasingly complex and dynamic financial landscape.”