Doha Bank has registered a more than 5% year-on-year increase in net profit to QR324mn at the end of first quarter ended March 31, 2020.
Net interest earnings grew 11% to QR548mn in the review period. The operating profit jumped 18% to QR749mn.
Total assets expanded 10% to QR106.4bn. Net loans and advances were up 11% to QR65.3bn at the end of March 31, 2020.
Customer deposits were up about 1% to QR54.8bn, reflecting the strong liquidity of the lender.
Doha Bank chairman Sheikh Fahad bin Muhamad bin Jabor al-Thani said the bank would make all efforts to be a main pillar in supporting companies and individuals, and would work in line with the plan pursued by Qatar to address the obstacles faced by its customers during this period to overcome this crisis. The bank’s assurance comes in the wake of His Highness the Amir Sheikh Tamim bin Hamad al-Thani’s directives to provide support to all sectors in view of the Covid-19 pandemic and accordingly the Qatar Central Bank also came out with support measures.
