Dukhan Bank reports QR1.2bn net profit for 2021 – The Peninsula

Dukhan Bank reports QR1.2bn net profit for 2021 – The Peninsula

Doha: Dukhan Bank has reported net profit of QR1.193bn for the year ended December 31, 2021. The bank’s robust financial performance during the year has resulted in its total assets to increase to QR110.7bn, representing a significant growth of more than 28 percent as compared to last year driven by growth under the financing assets and investment securities. Notably financing assets continued to grow to QR75.2bn at end of December 31, 2021 from QR58.5bn at December 31, 2020, representing a remarkable growth of 29 percent.

Further customers’ deposits balance raised to QR77.4bn at end of 2021, which mainly supported the assets growth, increased considerably by 44 percent compared to QR53.9bn as at December 31, 2020.

The bank’s total equity soared to QR14bn from QR11.5bn at end of December 2020 whereas the total capital adequacy ratio stands at 18.4 percent as of 31 December 2021, in accordance with the Basel III guidelines, maintaining a sufficient buffer above the minimum supervisory ratio as specified by Qatar Central Bank and Basel Standards. Dukhan Bank’s strong asset liability management capabilities enabled it to improve its financing to deposits ratio to under 98 percent from above 100 percent at end of 2020 reflecting the improvement in the