Doha Bank has won the “Best Commercial Bank in Qatar 2021” at the World Business Outlook Awards 2021.
The award is a firm acknowledgement of the effectiveness of Doha Bank’s business strategy and the value it provides to its various stakeholders.
“The award is a reflection of Doha Bank’s leadership on sustainable growth and we are honoured to have this prestigious award. This is a reflection of Doha Bank’s leadership on sustainable growth while providing innovative offerings to our customers through digital technology,” said Dr R Seetharaman, Doha Bank chief executive.
In 2021, Doha Bank successfully completed a $500mn five-year senior unsecured bond at a yield of 2.431% per annum. The transaction was executed under the bank’s $2bn EMTN issuance programme, which is listed on the London Stock Exchange, UK.
Doha Bank is a leading provider of trade finance and supply chain solutions to its wholesale banking clients locally and in other markets across the GCC or Gulf Co-operation Council as well as internationally.
The lender's wholesale banking group is currently going through a major restructuring with the group being segregated into coverage, product and support teams.
The bank profit reported net profit of QR380mn in the first quarter of 2021, showing a year-on-year increase of 17.3%. The total shareholder’s equity reached QR14bn by end of quarter, showing an increase of 15%.
The bank continued to strengthen its key capitalisation ratios, where the total capital adequacy ratio of the bank increased to 19.7% at the end of March 2021.