Doha Bank posts QR252m net profit for Q1

22/04/2025 03:35 AST

Chairman of the Board of Directors of Doha Bank, Sheikh Fahad bin Mohammad bin Jabor Al Thani, announced that the board of directors in its meeting held yesterday, has approved the Bank's Interim Condensed Consolidated Financial Information for the quarter ended on 31 March 2025.

The Chairman added that the net profit of the Bank for the first quarter 2025 amounted to QR252m, representing an increase of 8.8% compared to the same period in 2024. Sheikh Fahad said that total assets as of March 31, 2025 reached QR115.3bn marking growth by QR12.95bn representing 12.7% compared to QR102.4bn in the same period last year, while net loans and advances reached to QR61.84bn indicating growth of 6.3% compared to the same period in 2024.

Customer deposits declined by QR2bn or -3.8% to reach QR50.2bn as of 31 March 2025 compared to QR52.2bn last year. The investment portfolio reached QR36.6bn recording growth of 21.6%, year-on-year. He also stated that net operating income for the quarter was QR681.8m which increased from same period last year of QR659.6m an increase of 3.4%, while net fee and commission income grew by 12% to reach to QR101.7m.

The Chairman further stated that the Bank's ongoing efforts to streamline operations, enhance digital capabilities, and optimize cost structures have begun to yield tangible results, reinforcing its long-term commitment to operational excellence, sustainable growth, and value creation.

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, as the Common Equity Tier 1 (CET1) Ratio reached 13.12% with robust Total Capital Adequacy Ratio at 19.27%." Sheikh Abdul Rahman added, "The Loan to Deposit Ratio continues to satisfy the regulatory requirements, at 95.89%. Meanwhile, the Bank has significantly improved its funding profile over the last year, which allows the bank to fund anticipated lending growth in 2025. Liquidity Coverage Ratio also has been further enhanced reaching 172.6% up from the previous year-end at 167.6%. In addition, the Total Shareholder's Equity reached QR14.65bn, showing an increase of 1.1% compared to last year."

"The financial performance continues to improve as a result of several measures that have been implemented under the Himma Transformation," said Sheikh Abdulrahman bin Fahad bin Faisal Al Thani, Group CEO of Doha Bank.

"Moving forward, we will continue to expand low-cost liabilities and profitable assets, bolstering the Bank's sustainability and stability. Improving our digital capabilities and increasing cost savings will remain among our top priorities. Our goals as a bank are to provide excellent and innovative financial services to our customers, sustain growth and long-term value proposition to our investors, and contribute to Qatar's economic diversification. Doha Bank's recent achievements show our dedication towards achieving these goals."

The Board of Directors unanimously approved the buyback of a portion of its own shares (treasury shares in Doha Bank), not exceeding (10%) of the total fully paid-up issued shares, in accordance with the rules and procedures stipulated by the Qatar Financial Markets Authority in this regard, and subject to obtaining the necessary approvals from the competent regulatory and supervisory authorities. The Board of Directors also unanimously authorized the Group Chief Executive Officer to take the necessary measures to obtain the approval of the Qatar Central Bank, the Qatar Financial Markets Authority, and to fulfill all other requirements necessary for the implementation of this resolution.

The Peninsula