Doha Bank has reported a net profit of QR209mn in the first three months of this year, according to information posted on the Qatar Stock Exchange website.

Net interest income reached QR492mn, an increase of 2% compared to the fourth quarter of 2022, said Doha Bank chairman Sheikh Fahad bin Mohamed bin Jabor al-Thani.

Net operating income stood at QR638mn with a marginal increase of 1% quarter-on-quarter, and has been able to manage its cost efficiently as reflected in a 2.2% year-on-year decline in total cost.

Total assets amounted to QR96.6bn at the end of March 31, 2023. Net loans and advances were QR56.6bn in the review period.

The investment portfolio was valued at QR25bn. Customer deposits stood at QR48.6bn as on March 31, 2023.

Sheikh Abdul Rahman bin Mohamed bin Jabor al-Thani, managing director of Doha Bank, said the total shareholders equity reached QR13.9bn by the end of first quarter ended March 31, 2023.

The bank, given the scale of operations, achieved a 6.3% return on average shareholders' equity and a 0.86% return on average assets, he said.

The lender continued to strengthen its capitalisation ratio wherein the total capital adequacy ratio stood at 19.4% as on March 31, 2023.

Sheikh Fahad reiterated that the bank would make all efforts to be a main pillar in supporting companies and individuals to benefit them with all possible facilities and would work in line with the plan pursued by Qatar.

 

 

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