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News : Lesha Bank Holds its Annual General Meeting

Lesha Bank LLC (Public) (the ‘Bank’ or ‘Lesha Bank’) held its Annual General Meeting (AGM) on Wednesday 15 March 2023 and approved all items listed on its agenda.

Chaired by Lesha Bank’s Chairman HE Sheikh Faisal bin Thani Al Thani, the AGM was held virtually via Zoom, with the attendance of Lesha Bank’s Board members, shareholders, and senior management team.

The AGM included the presentation of the Chairman’s report for the financial year ended 31 December 2022 and the work plan for the financial year of 2023, in addition to several other reports including the presentation and approval of Shari’a Supervisory Board report; Audited Financial Statement; External Auditor’s Report; Corporate Governance Report in compliance with the Qatar Financial Markets Authority (QFMA) Governance Code for Companies and Legal Entities Listed on the Main Market; and the Internal Control Over Financial Report (ICOFR).

Moreover, the meeting approved Lesha Bank’s major transactions and the recommendations of the Board of Directors regarding non-distribution of dividends as well as not taking an optional reserve, and the discharging and releasing of the members of the Board from liabilities. Furthermore, Ernst & Young was approved to be re-appointed as the Bank’s external auditor for the financial year 2023 in addition to approving their fees.

HE Sheikh Faisal bin Thani Al Thani, Chairman of Lesha Bank commented: “Lesha Bank has enjoyed continued success in 2022, recording a net profit of QAR 75.5 million. This marked our second consecutive year of profit along with nine profitable quarters, a remarkable steppingstone towards greater improvements. The new Board has demonstrated excellent diligence in their first year with our Bank. We will continue our cautious, disciplined, and prudent measure and controls to overcome the current global macroeconomic challenges while maintaining our focus on looking out for lucrative and profitable premium investment opportunities, and offering top-of-the-line investment portfolio management services.”

“Our rebranding from QFB to Lesha Bank is a great milestone, helping us launch a new chapter in our journey capitalizing on the experience and insight we accumulated. We have grown and improved over the course of the years as an organization with devoted employees and loyal shareholders and clients, and we aim to further build on the momentum to achieve further growth.”

Lesha Bank LLC (Public) is the first independent Shari’a-compliant Bank authorized by the QFC Regulatory Authority (QFCRA) and a listed entity on the Qatar Stock Exchange (QSE: QFBQ).

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