Sheikh Fahad bin Mohammad bin Jabor Al Thani, Chairman of the Board of Directors of D o h a B a n k , announced Doha Bank’s financial results for the first quarter of 2021.
The Bank reported a net profit of QR380m as c o m p a r e d t o QR324m for the same period in 2020 showing an increase of 17.3 percent.
Sheikh Fahad said that total assets i n c r e a s e d b y QR5.7bn, a growth of 5.4 percent, to QR112.1bn as at March 31, 2021. Net loans and advances increased to QR70.5bn or by 8 percent as at March 31, 2021.
Customer deposits showed increase of 16.2 percent from QR54.8bn to QR63.7bn as at March 31, 2021. The bank’s cost to income ratio has come down to 26.5 percent in the first quarter as compared to 30.8 percent for 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 by end of quarter reached to QR14bn showing an increase of 15 percent.
The bank continued to strengthen its key capitalisation ratios, where the total capital adequacy ratio of the bank increased to 19.7 percent in March 2021 from 16.2 percent as compared to the same period last year.”
Muhammad bin Jabor Al Thani, Chairman of the Board of Directors stated that, despite the circumstances the world is currently witnessing, it is that, under the wise leadership pursued by Amir H H Sheikh Tamim bin Hamad Al Thani, and his directives to provide support to all sectors and banks in Qatar in the face of the COVID-19 crisis, and based on the instructions issued by Qatar Central Bank in this regard, Doha Bank will make all efforts to be the main pillar in supporting companies and individuals in benefiting from all possible facilities, and will work in line with the plan pursued by the State of Qatar to address the obstacles faced by its customers during this period to overcome this crisis.
