DOHA: Aamal Company, a prominent diversified firm in the region, announced a notable financial performance for the first half of 2025. The company reported a net profit of QR221.3 million, reflecting a substantial increase of 17.5% compared to QR188.4 million in the same period last year. Total revenue for the first half reached QR1.07 billion, up from QR1.045 billion in H1 2024.

The gross profit saw a slight increase of 0.2%, amounting to QR261.8 million, compared to QR261.3 million in the previous year. There were no fair value gains on investment properties reported for either period. Earnings per share rose to QR0.035, an increase from QR0.030 in H1 2024. Additionally, net capital expenditure decreased by QR6.2 million to QR13.8 million, while the company’s gearing ratio increased to 2.93%.

Strategic Growth and Future Prospects

Sheikh Mohamed bin Faisal bin Qassim Al Thani, Vice Chairman and Managing Director of Aamal, expressed confidence in the company’s performance, stating, “Aamal’s first-half performance is a strong endorsement of the Group’s strategic direction and the capable leadership across all its business units.” He emphasized the company’s ability to deliver consistent value through a diversified business model and a clear focus on long-term growth.

Highlighting Aamal’s ongoing projects, Sheikh Mohamed noted a significant QR3 billion order backlog and plans to establish a new infrastructure and construction services company in Saudi Arabia. This move is expected to enhance Aamal’s presence in emerging markets and create new opportunities for growth.

Rashid bin Ali Al Mansoori, Chief Executive Officer of Aamal, also commented on the results, reinforcing the strength of the company’s diversified business model. He remarked, “These results reflect our confidence in the Company’s strategic direction and its ability to capture long-term value across various markets, not only in Qatar but in the wider region.”

Continued Focus on Growth and Operational Performance

Aamal’s industrial manufacturing sector has shown robust performance, contributing significantly to the company’s revenue and profit growth. The sector is actively engaged in major infrastructure and energy projects, with a recent contract worth QR1 billion signed with Kahramaa, further bolstering its order backlog.

Looking ahead, Al Mansoori expressed optimism about maintaining the momentum generated in the first half, stating, “This set of results highlights the benefits of Aamal’s value creation strategy and investments.” He reiterated the company’s commitment to unlocking new growth avenues while enhancing its positive impact across key sectors in Qatar and the Gulf Cooperation Council (GCC) region, aligning with Qatar National Vision 2030.

Aamal’s recent performance underscores its strategic focus on expansion and operational excellence, positioning the company to capitalize on emerging opportunities in a dynamic economic landscape.

DOHA: Aamal Company, a leading diversified firm in the region, announced a significant increase in net profit for the first half of 2025. The company reported a net profit of QR221.3 million, an increase of 17.5% compared to QR188.4 million in the same period last year. Total revenue also saw a rise, reaching QR1,070.1 million, up from QR1,045.2 million in H1 2024.

The gross profit showed a modest increase of 0.2%, amounting to QR261.8 million, compared to QR261.3 million in H1 2024. Earnings per share rose to QR0.035, reflecting the overall growth in profitability. Meanwhile, net capital expenditure decreased by QR6.2 million, totaling QR13.8 million for the period.

Strategic Growth and Future Outlook

Sheikh Mohamed bin Faisal bin Qassim Al Thani, Vice Chairman and Managing Director of Aamal, expressed confidence in the company’s performance. He noted, “Aamal’s first-half performance is a strong endorsement of the Group’s strategic direction and the capable leadership across all its business units. The results reflect our ability to consistently deliver value, supported by a diversified business model and a clear focus on long-term growth.”

Aamal’s growing project pipeline includes a substantial order backlog of QR3 billion and plans to expand into new markets, particularly through a new infrastructure and construction services company in Saudi Arabia. This strategic move is expected to enhance Aamal’s presence in dynamic regional markets.

Rashid bin Ali Al Mansoori, Chief Executive Officer of Aamal, highlighted the resilience of the company’s diversified business model. He stated, “These results reinforce our confidence in the Company’s strategic direction and its ability to capture long-term value across various markets, not only in Qatar but in the wider region.”

Sector Performance and Future Initiatives

The industrial manufacturing sector has played a crucial role in Aamal’s success, contributing to robust revenue and net profit growth. The sector remains actively engaged in major infrastructure and energy projects, including a recently signed contract worth QR1 billion with Kahramaa, further boosting the company’s order backlog.

Looking forward, Aamal’s leadership remains optimistic about sustaining growth momentum. They believe the results from the first half of 2025 underscore the effectiveness of the company’s value creation strategy. The focus will continue to be on enhancing operational performance and unlocking new growth opportunities in line with Qatar National Vision 2030.

Aamal’s leadership is committed to delivering value not only for shareholders but also for the broader stakeholder community, ensuring the company remains well-positioned for future success.

QNB Egypt, a subsidiary of QNB Group, has reported robust financial results for the first half of 2025, underscoring the Group’s strong financial standing in the region. As of June 30, 2025, QNB Egypt achieved a consolidated net profit of EGP 15.1 billion, a notable increase of EGP 1.322 billion or 10% compared to the same period in 2024. This performance reflects the effectiveness of QNB Group’s strategy and its successful expansion across international markets.

The bank’s standalone net profit reached EGP 14.8 billion. Additionally, the total loans and advances portfolio grew by EGP 42 billion, reaching EGP 407 billion, marking an 11% growth compared to December 2024. Customer deposits also saw a positive trend, totaling EGP 700 billion at the end of June 2025, which represents an increase of EGP 20 billion or 3% since December 2024.

Strategic Growth and Market Leadership

Commenting on these impressive financial results, Heba Al-Tamimi, Senior Executive Vice President of QNB Group Communications, emphasized the importance of strategic diversification. She stated, “Our continued success is built on solid foundations supported by the strategic diversification of our services across different geographies. This enhances our ability to adapt and seize promising opportunities.”

Mohamed Bendier, CEO of QNB Egypt, echoed this sentiment, noting that the financial performance indicators reveal significant growth across all business sectors. Bendier remarked, “These results are a direct reflection of the strong performance of QNB Group, confirming our leadership in the Egyptian banking sector and contributing to achieving a larger market share.”

Total consolidated assets for QNB Egypt rose to EGP 844 billion as of June 30, 2025, an increase of EGP 24 billion or 3% since December 2024. The bank also maintained a strong capital adequacy ratio of 24.3%, a testament to its prudent credit policies. The non-performing loan ratio stood at 5.23%, with a provision coverage ratio for substandard loans reaching 107%.

Expanding Branch Network

These positive results highlight the effectiveness and flexibility of QNB Egypt’s executive policies and procedures, which have bolstered its competitiveness and market share within Egypt. The bank’s branch network has expanded to 236 branches, including a recently opened branch in New Alamein City. This growth strategy aligns with QNB Group’s objective of enhancing its service delivery and customer reach across the nation.

As QNB Egypt continues to build on its strong performance, the Group remains focused on achieving sustainable growth and delivering long-term value to customers and shareholders alike.

A prominent lawyer has called for a formal investigation into the processes followed by the Ministry of Business, Innovation and Employment (MBIE) regarding a significant banking class action. Rachael Reed, KC, representing plaintiffs in the case, raised concerns about potential failures in civil service procedures and the representation of key financial risk assessments to Parliament.

In a letter addressed to Public Service Commissioner Sir Brian Roche and Attorney-General Judith Collins, Reed highlighted issues surrounding a risk assessment by the Reserve Bank of New Zealand. The assessment suggested a potential risk of $12.9 billion to the banking sector if no changes were made to the Credit Contracts and Consumer Finance Act (CCCFA). This assessment is critical as it underpins the proposed CCCFA Amendment Bill, currently under review by the Finance and Expenditure Committee.

The bill includes provisions that would allow courts to determine compensation for lenders regarding historical breaches of disclosure from 2015 to 2019, instead of mandating full repayment of interest and fees. Reed criticized the Reserve Bank’s modeling, stating that it relies on unrealistic scenarios and appears to lack mathematical validity. She pointed out that major banks, including ANZ and ASB, have dismissed settlement offers of $300 million as excessive, which raises questions about the validity of the claimed exposure of $12.9 billion.

Reed expressed concern that some members of the committee accepted this figure without adequate scrutiny. She emphasized the need for an investigation to assess whether MBIE officials adhered to established standards of policy advice, consultation, and transparency in their dealings with the Reserve Bank’s scenarios. Furthermore, she called for an examination of whether the analysis justified the retrospective legislation affecting numerous consumers and specifically targeting the class action against ANZ and ASB.

She stated to Collins: “Retrospective legislation is an extraordinary use of extraordinary power that inherently undermines the rule of law. It should only be used where the foundation is transparently justified and unassailable.” Reed argued that the evidence indicates MBIE officials failed to provide a robust foundation for their claims, relying instead on incomplete and flawed analysis.

“The depth of these process failures impacts democratic decision-making and the legal rights of tens of thousands of New Zealanders,” she added, urging immediate attention to uphold the country’s constitutional standards.

In response, Andrew Hume, general manager of commerce, consumer and business policy at MBIE, stated that the ministry is confident in the quality of the advice provided on the retrospective changes. He noted that while MBIE was not initially considering retrospective change during public consultations in 2024, concerns raised about historical breaches warranted further investigation.

Hume acknowledged that the ministry’s consultation was limited by commercial sensitivities and ongoing litigation. “Final decisions were made by Ministers and Cabinet. The bill is currently before the Select Committee for consideration,” he concluded.

As the situation unfolds, the implications of these discussions may significantly affect not only the banking sector but also the legal landscape for consumers in New Zealand.