Quotes: 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
 Mar 4 2015 - Egypt eyes foreign investmentsMENAFN
(MENAFN) Egypt's economic conference raised expectations about improving investments opportunities in the country as well as among foreign business communities, The National reported.However, the ...

 Mar 4 2015 - ME carriers register 11.4 percent passenger growth in JanuaryMENAFN
(MENAFN) An increasing number of passengers are continuing to choose Middle East carriers for international travel, according to January figures from International Air Transport Association (IATA), ...

 Mar 4 2015 - UAE's Sanad portfolio value to reach USD1.5b by 2020MENAFN
(MENAFN) Sanad Aero Aolutions (Sanad), Mubadala's spare engine and component leasing and financing company, plans to increase its portfolio value to more than USD1.5 billion by 2020, up from over ...

 Mar 4 2015 - EU shares near 7-year highs as German retail sales jumpKhaleej Times
(MENAFN - Khaleej Times) The gains follow a rise in Asia and another record day on the Wall Street . US stocks futures pointed to a flat start.Eurozone government bond yields were slightly higher but ...

 Mar 4 2015 - UAE-based enterprises key target for seven global trade shows in Hong KongKhaleej Times
(MENAFN - Khaleej Times) The Hong Kong Trade Development Council, or HKTDC, the international representative organisation for Hong Kong-based manufacturers, traders and service providers, announced ...

 Mar 4 2015 - Moody's Investor Service upgrades Emaar's outlookKhaleej Times
(MENAFN - Khaleej Times) Emaar's strong cash flow generation, solid liquidity and growing business diversification will enable it to weather the more uncertain investment climate, Moody's Investor ...

 Mar 4 2015 - Israeli Navy Shoots Palestinian Fishing BoatsQatar News Agency
(MENAFN - QNA) Israeli navy opened fire at Palestinian fishing boats sailing off al-Sudaniya shore, in the northern Gaza Strip. Palestinian security sources said that the Israeli navy roaming the ...

 Mar 4 2015 - Dubai Int'l Boat Show sees more than 26,000 visitorsKhaleej Times
(MENAFN - Khaleej Times) The 23rd edition of the Dubai International Boat Show opened on Tuesday and is expected to draw more than 26,000 visitors from over 120 countries including High Net Worth ...

 Mar 4 2015 - Middle East and Africa private wealth set to hit $7.2t by 2018Khaleej Times
(MENAFN - Khaleej Times) With private wealth in the Middle East and Africa projected to reach $7.2 trillion by 2018, Dubai International Financial Centre is well positioned with its laws and ...

 Mar 4 2015 - Luxembourg seeks to bolster ties with UAEKhaleej Times
(MENAFN - Khaleej Times) Luxembourg, which is home to assets under management to the tune of more than ‚¬3000 billion, seeks to boost collaboration with the UAE in financial services, in particular ...

more...


 






Google

 
 

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

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

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
Economic Calendar
Financial Glossary


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


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help