Three Qatari Joint Stock Companies Reveal Financial Statements for Q1 of 2011

Doha, April 19 (QNA) - Doha Bank Disclosed here on Tuesday its Interim Financial Statement for the three month period ended March 31, 2011. The financial statements revealed a net profit of QR 363 million in comparison to QR 315 million for the corresponding period in 2010.
The Earnings per Share (EPS) amounted to QR 1.86 as of March 31, 2011 versus QR 1.66 of the same period in 2010.
Chairman of the Board of Directors of Doha Bank, HE Sheikh Fahad Bin Mohammad Bin Jabor Al Thani, announced today Doha Bank's financial results for the first quarter of 2011. Net profit for the first quarter of 2011 recorded an impressive QAR 363 million as compared to QAR 315 million for the same period in 2010 showing an increase of 15.2%. Net interest income rose by 33.4% to QAR 393 million. Loans and advances reached QAR 26.1 billion and total assets increased by QAR 2 billion, a growth of more than 4.5%, from QAR 44.4 billion as at 31 March 2010 to QAR 46.4 billion as at 31 March 2011. Customer deposits and unrestricted investment depositor accounts increased to QAR 28 billion from QAR 27.2 billion for the same period last year, registering a growth of 3.1% as at 31 March 2011 evidencing the strong liquidity position of the Bank.
For his part, Managing Director of Doha Bank ,H.E. Sheikh Abdul Rehman Bin Mohammad Bin Jabor Al Thanisaid "The Bank has become extremely strong over the years with shareholders funds, as at 31 March 2011, at QAR 6.2 billion, registering an increase of 17% during the last twelve months. The paid?up share capital of our bank has organically increased over the years and, as at 31 March 2011 it is QAR 2.07 billion reflecting the strong confidence we enjoy from our shareholders and this region.
Doha Bank was the First organization in the GCC to have achieved the ISO/IEC 20000. ISO20000 is the first worldwide standard specifically aimed at IT Service Management (ITSM) and Doha Bank has defined its policy for IT Service Management as to adopt
and adapt state of the art IT technology integrating people and IT to support and improve all business processes."
Meanwhile Alkhalij Holding Company disclosed the interim financial statement for the three month period ended March 31, 2011. The financial statements revealed a net profit of QR 16.9 million in comparison to QR 11 million for the corresponding period in 2010.
The Earnings per Share (EPS) amounted to QR 0.14 as of March 31, 2011 versus QR 0.09 of the same period in 2010.
Whereas Qatar Islamic Insurance Company disclosed the interim financial statement for the three month period ended March 31, 2011. The financial statements revealed a net profit of QR 21.4 million in comparison to QR 14.3 million for the corresponding period in 2010.
The Earnings per Share (EPS) amounted to QR 1.43 as of March 31, 2011 versus QR 0.95 of the same period in 2010.(QNA)