Doha Bank wins 'Best commercial Bank in Qatar 2021' at World Business Outlook Awards 2021

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.