Doha Bank achieves net profit of $211.26mln in 2023

Doha Bank achieves net profit of $211.26mln in 2023

Doha, Qatar: Chairman of the Board of Directors of Doha Bank, Sheikh Fahad bin Mohammad bin Jabor Al Thani, announced that the Board of Directors (BOD) in its meeting held yesterday has approved the bank’s draft audited financial statements for the year ended 2023. He added that the net profit of the Bank for the year 2023 is QR769m as compared to QR765m in the year 2022, a year-on-year growth of 0.5%.

Based on these results, the Board of Directors passed a resolution in its meeting held on January 24, 2024, recommending to the General Assembly of the Shareholders to approve the distribution of cash dividends of QR0.075 per share, an equivalent of 7.5% of the paid-up capital.

Sheikh Fahad said that total assets as at December 31, 2023 reached QR101.3bn to grow by QR3.6bn i.e. 3.7% as compared to QR97.6bn last year, while net loans and advances reached to QR58bn which is flattish as compared to last year, however, the Bank achieved a growth in the private sector lending of 5% as compared to the previous year.

Sheikh Abdul Rahman bin Mohammad bin Jabor Al Thani, Managing Director of Doha Bank said, “The bank continues to maintain solid capital and liquidity positions.

Sheikh