Doha, Qatar: Chairman of the Board of Directors of Doha Bank, Sheikh Fahad bin Mohammad bin Jabor Al Thani announced the bank’s financial results for the first half (H1) of 2023. Net profit of the Bank for the first half of 2023 reached QR392m. This is after taking additional provisions for the first half of the year to support the Bank’s financial position.
He also stated that the net interest income in Q2-2023 reached QR537m, an increase of 9.3 percent as compared to Q1-2023. Net operating income in Q2-2023 reached QR715m, an increase of 12.1 percent as compared to Q1-2023 and has been able to reduce its total cost by 0.6 percent during first half of 2023 as compared to same period last year. Total assets amounted to QR93bn as at 30 June 2023. Net loans and advances reached QR55.8bn as at 30 June 2023. The investment portfolio amounted to QR25.4bn. Customer deposits stood at QR44.1bn as at 30 June 2023.
Sheikh Abdul Rahman bin Mohammad bin Jabor Al Thani, Managing Director of the Board of Directors of Doha Bank, announced that the total shareholder’s equity by end of half year 2023 reached to QR14.2bn an increase of 2.0 percent as compared to same period last year. The bank, given the scale of its operations, has achieved a return on average shareholders’ equity of 5.8 percent, the return on average assets of 0.82 percent. The bank continued to strengthen its key capitalization ratios, where the total capital adequacy ratio of the bank stood at 19.8 percent as at 30 June 2023.
Sheikh Fahad bin Muhammad bin Jabor Al Thani, Chairman of the Board of Directors stated that under the wise leadership pursued by H H Sheikh Tamim bin Hamad Al Thani, Amir of Qatar, and his directives to provide support to all sectors and banks in Qatar and based on the instructions issued by Qatar Central Bank in this regard, Doha Bank will make all efforts to be a main pillar in supporting national economy and private sectors, companies or individuals in benefiting from all possible facilities, and will work in line with the plan pursued by Qatar.
