Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Qatar- Barwa Bank net profit up 46pc  Join our daily free Newsletter

MENAFN - The Peninsula - 30/03/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - The Peninsula) Barwa Bank Group, Qatar's Shari'ah-compliant banking service provider, has recorded a strong growth in both balance sheet and profitability for the full-year 2013, with net profit growing by 46 percent at QR503.9m compared with QR345.2m in 2012.



The group's total assets increased by 33 percent to reach QR33.6bn, a reflection of 26 percent growth in the financing portfolio from QR15.3bn to QR19.3bn, with customer deposits rising from QR14.8bn to QR21.2bn.Earnings-per-share improved from QR1.17 to QR1.68, in 2013, a 43 percent improvement



The year 2013 saw the emergence of a more "balanced" income profile: reliable, quality earnings from wholesale activity and it was complemented by a very strong contribution from Treasury and a major improvement in retail performance



During the year, Barwa Bank's elevated profile gained significant recognition both domestically and regionally, a development reflected in both customer acquisition volumes and a number of prestigious industry awards. A highlight was winning the Islamic Business and Finance Awards' "Best Bank" title



The bank continued to build the infrastructure that supports its strategic growth plans, including continuing investment in Information Technology and premises, with two new prestigious locations due to open during the first half of 2014.



Barwa Bank achieved a 25 percent Qatarisation at the group level. The bank continued to attract prominent Qatari banking professionals in a number of key leadership roles driving and executing the growth strategy.



Sheikh Mohamad bin Hamad bin Jassim Al Thani, Chairman, Barwa Bank Group thanked the entire team of Barwa Bank Group for delivering yet another strong year. "I can also confirm that our momentum has continued with a very positive start to 2014 and, through our first-class team and with support from the Board, we will continue to deliver innovative Shari'ah-compliant banking services to our clients and add value to our shareholders and the financial sector in Qatar", he said

 


The Peninsula




  MENA News Headlines
 Oct 1 2014 - Kuwait to host 23rd Gulf Cup of NationsArab Times
(MENAFN - Arab Times) KUWAIT CITY Sept 30 (KUNA): Kuwait will host the 23rd edition of the Gulf Cup of Nations Kuwait Football Association (KFA) Secretary General Saho Al-Saho said Tuesday. Al-Saho ...

 Oct 1 2014 - Abu Dhabi airport's passenger traffic up 24.8 percent in AugustMENAFN
(MENAFN) Abu Dhabi International Airport's passenger traffic increased by 24.8 percent in August compared to the same month last year, with a total of 1.920.934 passengers passing through the airport ...

 Oct 1 2014 - US Mondelez International to invest USD90m in plant in BahrainMENAFN
(MENAFN), the packaged food company, announced it is planning to build a USD90 million biscuit plant in Bahrain, which will help the company reduce costs and meet growing demand for its biscuits, ...

 Oct 1 2014 - Oman interested to invest in CyprusMENAFN
(MENAFN) Oman's Minister of Oil and Gas said that the country is very interested in investing in Cyprus, particularly in the field of research and exploitation of natural gas, Muscat Daily ...

 Oct 1 2014 - Emirates to launch new Dallas flightsMENAFN
(MENAFN) Emirates announced it has launched its first scheduled A380 daily service to Dallas Fort Worth International Airport, Gulf Business reported.The airline said it expects that the business ...

 Oct 1 2014 - Dubai Development Co. considering several offers of merger or acquisitionMENAFN
(MENAFN) Dubai Development Co, the company responsible for the Mirdif area of the emirate, announced it is considering several external offers of merger or acquisition, Arabian Business reported.The ...

 Oct 1 2014 - Etihad Rail starts on second phase of USD11bn UAE rail networkMENAFN
(MENAFN) Etihad Rail, the UAE's railway developer, announced it is set to secure government funding and award contracts for the construction of the second phase of its USD11 billion national rail ...

 Oct 1 2014 - Omani Renaissance awards 2 contracts for Duqm construction projectMENAFN
(MENAFN) Renaissance Services announced it has awarded the contractors S&T and Al Hajiry two main construction contracts in the Duqm permanent accommodation (PAC) project, Times of Oman reported. ...

 Oct 1 2014 - Oman's PEIE, Italian firm ink consultancy for Ibri projectMENAFN
(MENAFN) The Public Establishment for Industrial Estates (PEIE) announced it has signed consultancy agreements with F&M Ingegneria Spa, the leading Italian engineering consultancy firm to develop the ...

 Oct 1 2014 - ISIL militants advance in N. Syria - SHORKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The Islamic State in Iraq and the Levant (ISIL) have crushed the Kurd defenses in the rural areas around Ayn Al-Arab city, known in Kurdish as Kobani, near ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help