Sheikh Fahad: ‘noticeable growth’
Doha Bank has reported more than 8% growth in net profit to QR1.05bn in full year 2010.
The board of directors, chaired by Sheikh Fahad bin Mohamed bin Jabor al-Thani, has recommended 50% cash dividend to investors, which has to be ratified at the general assembly meeting.
The board is also seeking approval from the extra-ordinary general assembly to hike the capital by 15% through global depositary receipts.
“The audited financial statements, declared net profit, cash dividends percentage and the other recommendations with regards to capital increase and amending few articles in the bank’s Article of Association are subject to the approval of both the controlling authorities and the shareholders general assembly,” said Sheikh Fahad after the board meeting yesterday.
The bank’s total assets rose about 3% to QR47.2bn in 2010 with loans and advances rising by 2.5% to QR26.5bn.
Customer’s deposits grew by 10.5% to QR 30.8bn in 2010, and total shareholders equity reached QR 6bn, registering a growth of 3.1% compared to last year.
Sheikh Fahad said the bank has achieved noticeable growth rate in the operational income of 2.52%, where the total operational income rose from QR2bn in 2009 to QR2.1bn in 2010.
The earning per share was QR 5.56. The return on the average shareholders equity and the return on average assets were 21.4% and 2.26% respectively.