Doha Bank achieved net profit growth of 8.2% to QR665mn in the first six months of 2022 compared to QR614mn for the same period in 2021, according to chairman of the board, Sheikh Fahad bin Mohamed bin Jabor al-Thani.
He said total assets amounted to QR99bn in H1 2022, while net loans and advances stood at QR60.7bn and customer deposits reached QR53.7bn.
Doha Bank managing director Sheikh Abdul Rehman bin Mohamed bin Jabor al-Thani said total equity stood at QR13.9bn in H1 2022 and that the bank continues to strengthen its key capitalisation ratios where the total capital adequacy ratio of the bank stood at 19.23% for the same period this year.
“The bank, given the scale of its operations, has achieved a return on the average assets of 1.33% as at June 30, 2022,” he said.
Sheikh Fahad said Doha Bank’s digital transformation strategy has shaped its future prospects and allowed the bank to incubate new lines of businesses that enhance its financial position and investment relations.
“During the first half of the year, we announced a change in the bank’s executive management as Gudni Stiholt Adalsteinsson was appointed as acting CEO, while Sheikh Abdulrahman bin Fahad bin Faisal bin Thani al-Thani onboarded as deputy CEO. Together, they will work to execute the strategy and plans aimed at improving the asset quality, controlling costs, and making the bank the best digital bank in Qatar,” Sheikh Fahad said.
In the first quarter of 2022, Sheikh Fahad said the board of directors agreed to increase the percentage of foreign investors’ ownership in the bank's capital to 100%, in accordance with the decision of HE the Minister of Commerce and Industry Sheikh Mohamed bin Hamad bin Qassim al-Abdullah al-Thani. The bank's Articles of Association were amended and the necessary approvals were obtained accordingly.
Also, Sheikh Fahad said under the wise leadership pursued by His Highness the Amir Sheikh Tamim bin Hamad al-Thani and his directives to provide support to all sectors, and as part of the collective efforts made by all agencies and institutions in the country to help the people of Qatar handle the current situation related to the Covid-19 pandemic.
Based on the instructions issued by Qatar Central Bank in this regard, Sheikh Fahad said Doha Bank made all efforts to be a main pillar in supporting the plans of the state, the QCB, and companies, and have been working to address the obstacles faced by all customers. He also expressed confidence that all Doha Bank customers will adapt to the digital banking transformation adopted by the bank.
He said total assets amounted to QR99bn in H1 2022, while net loans and advances stood at QR60.7bn and customer deposits reached QR53.7bn.
Doha Bank managing director Sheikh Abdul Rehman bin Mohamed bin Jabor al-Thani said total equity stood at QR13.9bn in H1 2022 and that the bank continues to strengthen its key capitalisation ratios where the total capital adequacy ratio of the bank stood at 19.23% for the same period this year.
“The bank, given the scale of its operations, has achieved a return on the average assets of 1.33% as at June 30, 2022,” he said.
Sheikh Fahad said Doha Bank’s digital transformation strategy has shaped its future prospects and allowed the bank to incubate new lines of businesses that enhance its financial position and investment relations.
“During the first half of the year, we announced a change in the bank’s executive management as Gudni Stiholt Adalsteinsson was appointed as acting CEO, while Sheikh Abdulrahman bin Fahad bin Faisal bin Thani al-Thani onboarded as deputy CEO. Together, they will work to execute the strategy and plans aimed at improving the asset quality, controlling costs, and making the bank the best digital bank in Qatar,” Sheikh Fahad said.
In the first quarter of 2022, Sheikh Fahad said the board of directors agreed to increase the percentage of foreign investors’ ownership in the bank's capital to 100%, in accordance with the decision of HE the Minister of Commerce and Industry Sheikh Mohamed bin Hamad bin Qassim al-Abdullah al-Thani. The bank's Articles of Association were amended and the necessary approvals were obtained accordingly.
Also, Sheikh Fahad said under the wise leadership pursued by His Highness the Amir Sheikh Tamim bin Hamad al-Thani and his directives to provide support to all sectors, and as part of the collective efforts made by all agencies and institutions in the country to help the people of Qatar handle the current situation related to the Covid-19 pandemic.
Based on the instructions issued by Qatar Central Bank in this regard, Sheikh Fahad said Doha Bank made all efforts to be a main pillar in supporting the plans of the state, the QCB, and companies, and have been working to address the obstacles faced by all customers. He also expressed confidence that all Doha Bank customers will adapt to the digital banking transformation adopted by the bank.
