Doha Bank reported a net profit for of QR519m for the first half of 2019, as compared to QR 471m for the same period in 2018 showing an increase of 10.2 percent.
The bank’s total assets increased by QR11.6bn, registering a growth of 13.1 percent, from QR89.2bn as at 30 June 2018 to QR100.8bn as at 30 June 2019. Net loans and advances increased to QR60.9bn as at 30 June 2019 from QR58bn for the same period last year, registering a growth of 5.1 percent.
Customer deposits showed a year on year increase of 7.2 percent from QR51.9bn to QR55.6bn as at 30 June 2019 which is evidence of the strong liquidity position of the Bank. The bank’s total financial investment portfolio increased by QR5.5bn, showing a significant growth of 27.7 percent as compared to the same period of the last year.
Sheikh Fahad bin Mohammad bin Jabor Al Thani, Chairman of the Board of Directors of Doha Bank commented that the achieved profit of QR519m for this half year as against QR471m of last year same period is due to robust growth on investment income and control on operating expenses, while kept the focus on strengthening the provisions. Sheikh Fahad expressed his satisfaction with the growth of the interest income by 5.5 percent as compared to the same period last year.
Sheikh Abdul Rehman bin Mohammad bin Jabor Al-Thani, Managing Director of Doha Bank said “The total shareholder’s equity stood at QR13.3bn as at 30 June 2019 from QR12.5bn for the same period last year, registering a growth of 5.7 percent. The bank continued to strengthen its key capitalisation ratios, where the total capital adequacy ratio of the bank increased to 17.4 percent as at 30 June 2019 from 16.6 percent as compared to the same period last year.
