Doha Bank Achieves QR 716 million for the First Half of 2017

Doha, July 19 (QNA) - Doha Bank announced the net profit for the first half of 2017 recorded QR 716 million as compared to QR 708 million for the same period in 2016 showing an increase of 1.0 percent, with earnings per share (EPS) amounting to QR 2.56 for the first half of 2017 to EPS amounted to QR. 2.65 for the same period of the previous year. HE Chairman of the Board of Directors of Doha Bank Sheikh Fahad Bin Mohammad Bin Jabor Al-Thani said, "This is another outstanding result and is clear demonstration that Doha Bank continues to perform consistently." The bank increased net operating income by 4.8 percent to QR 1,473 million. Total assets increased by QR 4.5 billion, a growth of 5.1 percent, from QR 87.3 billion by June 30, 2016 to QR 91.8 billion by June 30, 2017. Net loans and advances increased to QR 59.2 billion by June 30, 2017 from QR 55.4 billion for the same period last year, registering a growth of 6.8 percent. Customer deposits showed a year on year increase of 6.8 percent from QR 52.4 billion to QR 56.0 billion by June 30 2017 which is evidence of the strong liquidity position of the bank. HE Managing Director of Doha Bank Sheikh Abdul Rehman Bin Mohammad Bin Jabor Al-Thani said "The bank has become extremely strong over the years with total equity, as at June 30, 2017, amounting to QR 14.6 billion, registering an increase of 11.7 percent during the last twelve months. Through the strategic utilization of the shareholders' funds by way of increasing our performance levels the return on average shareholders' equity is 14.7 percent as at 30 June 2017 one of the best in the industry. The bank has achieved a very high return on the average assets of 1.57 percent by June 30, 2017. Chief Executive Officer of Doha Bank Dr. Raghavan Seetharaman said, "Doha Banks strong results highlights the ever growing strength of its vision and strategy to capitalize on market synergies, ongoing customer demand, its strong suite of products and services, resilient economy and strong banking fundamentals in Qatar." (QNA)