Doha Bank posts QR765m net profit for 2022/FY

During its Ordinary General Assembly meeting, Doha Bank’s Board of Directors reported that the Bank has achieved a net profit of QR765m in the year ended December 31, 2022. 

The meeting was held yesterday at the Doha Bank headquarters as the Bank’s Chairman Fahad bin Mohammed bin Jabor Al Thani, Vice Chairman Ahmed Abdul Rahman Yousef Obeidan, the Board of Directors and other officials of the Bank took part. 

The meeting also witnessed the reports of the audited financial statements showing the amount of the total assets reached QR97.6bn, net loans and advances amounting to QR58.1bn, the investment portfolio reached QR25bn, Customer deposits reached QR50.1bn and the total shareholder’s equity amounted to QR14.1bn. 

Praising the Bank’s efforts through various strides during the previous years, Chairman Al Thani said that “With a view to strengthening the lending capacity and improving the competitive edge and prospects for achieving the strategic goals, Doha Bank during the past years focused on enhancing its Tier 1 capital base and Capital Adequacy Ratio through the issuance of Tier 1 capital instruments amounting to QR2bnin each issuance qualifying as additional Tier 1 capital for Doha Bank in Qatar as per terms and requirements of Qatar Central Bank.”

The report also states that the income showed a net interest amount of QR2.3bn, and the operating income reached QR2.9bn. The earnings per share amounted to QR0.25, meanwhile, the return on average shareholders’ equity was 5.8 percent and the return on average assets was 0.77 percent.“Doha Bank has maintained its position as one of the key players in Qatar’s banking industry. This has been achieved through the bank’s strategy, which encompasses seven strategic guiding principles and the 5R model. Doha Bank will continue focusing on customer experience enhancement, revenue optimisation, and cost reduction opportunities,” he added.