DOHA: Sheikh Fahad bin Mohammad bin Jabor Al Thani, Chairman of the Board of Directors of Doha Bank, announced Doha Bank’s financial results for the first half of 2022. He said that the bank achieved net profit for the first six months of 2022 at QR665m as compared to QR614m for the same period in 2021 showing an increase of 8.2 percent.
Sheikh Fahad added that the total assets amounted to QR99bn, as at 30 June 2022 and the net loans and advances amounted to QR60.7bn while the Customer deposits reached QR53.7bn as at 30 June 2022.
Sheikh Abdul Rehman bin Mohammad Bin Jabor Al-Thani, Managing Director of Doha Bank said that “The total equity stood at QR13.9bn as at 30 June 2022 and the bank continues to strengthen its key capitalization ratios, where the total capital adequacy ratio of the bank stood at 19.23 percent as at 30 June 2022. The bank, given the scale of its operations, has achieved a return on the average assets of 1.33 percent as at 30 June 2022”.
Sheikh Fahad bin Mohammad bin Jabor Al Thani, the Chairman of the Bank, stated that the bank’s digital transformation strategy has shaped the bank’s future prospects and allowed it to incubate new lines of businesses that enhance the bank’s financial position and its investment relations. Also, during the first half of the year, we announced a change in the bank’s Executive Management as Gudni Stiholt Adalsteinsson has been appointed as the Acting CEO while Sheikh Abdulrahman bin Fahad bin Faisal bin Thani Al Thani onboarded as the 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.”
He added that during the first quarter of this year, the Board of Directors had agreed to increase the percentage of foreign investors’ ownership in the bank’s capital to 100 percent in accordance with the decision of the Minister of Commerce and Industry, and then the bank’s Articles of Association were amended, and the necessary approvals were obtained accordingly.
