Doha Bank posts QR737m net profit for third quarter

DOHA: Doha Bank recorded a net profit of QR737m for the third quarter of 2018 as against QR1.04bn for the same period last year after taking significant loan loss provision in relation to the bank’s overseas branches. The interest income significantly grew by 10.6 percent as compared to the same period last year to reach QR2.9bn. The net operating income stood at QR2.03bn.

Announcing the financial results, Sheikh Fahad bin Mohammad bin Jabor Al Thani, Chairman of the Board of Directors of Doha Bank, said “the bank’s core revenue streams have shown a sustainable earning capacity reflecting on the bank’s intrinsic strength towards recurring earning capacity and also on the Bank’s productive operational performance.” Doha Bank’s total assets amounted to QR90.4bn as at 30 September 2018. Net loans and advances reached QR59.2bn, registering a growth of 0.3 percent. Doha Bank has adequate loan loss provision against non-performing loans. The investment portfolio amounted to QR20bn, registering an increase of 14 percent. Customer deposits stood at QR51.9bn.

Sheikh Abdul Rehman bin Mohammad bin Jabor Al Thani, Managing Director of Doha Bank said “The total shareholder’s equity stood at QR13bn as at 30 September 2018, and through the strategic utilization of the shareholder’s funds by way of increasing our performance levels the return on average shareholders’ equity is 10.3 percent.

The Bank, given the scale of operations, has achieved a return on the average assets of 1.07 percent.” By highlighting Doha Bank’s key initiatives and innovations, the bank CEO Dr R Seetharaman said, “Doha Bank looks to set the industry standard and continually explore new financial instruments that drive maximum value”. That in addition to capitalizing on market synergies in a challenging and competitive environment, resilient economy and strong banking fundamentals in Qatar.” Doha Bank successfully implemented new accounting standards (IFRS 9) as directed by QCB.

In recognition of Doha Bank’s ability to maintain strong fundamentals, Fitch re-affirmed Doha Bank’s rating at ‘A’ and upgraded the outlook to ‘Stable’. During the quarter, Moody’s also upgraded Doha Bank’s outlook to ‘Stable’. Commenting on the ratings, Dr. Seetharaman said, “The ratings recognise Doha Bank’s sustainable business model in the current business environment.”

بلغ صافي ربح بنك الدوحة خلال الأشهر التسعة الأولى من العام الحالي 737.5 مليون ريال مقارنة بنحو 1049 مليونا للفترة ذاتها من السنة الماضية.

وذكر بيان ورد على الموقع الإلكتروني لبورصة قطر،اليوم ،أن العائد على السهم للربع الثالث من العام الجاري بلغ 2.38 ريال، مقابل 3.61 ريال لنفس الفترة من العام الماضي.

يشار إلى أن بنك الدوحة، المدرج في بورصة قطر، يعتبر أحد أكبر البنوك التجارية في دولة قطر، وقد واصل تحقيق نمو قوي خلال السنوات العشر الأخيرة بفضل الفلسفة والرؤية القيادية الفاعلة التي يتبناها.

ويقدم البنك الذي تأسس في عام 1979، خدمات مصرفية للأفراد والشركات والمؤسسات على الصعيدين المحلي والدولي من خلال أربعة من مجموعات الأعمال هي مجموعة الخدمات المصرفية التجارية، ومجموعة الخدمات المصرفية للأفراد، ومجموعة الخدمات المصرفية الدولية، ومجموعة الخزينة والاستثمار.