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. 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
 Feb 5 2016 - Jordan's Joramco to spend USD10m on expansionMENAFN
(MENAFN) In response to expanding demand and an arising Iranian aviation market, Joramco, a Jordan-based aircraft heavy maintenance company, is planning to invest nearly USD10 million to expand its ...

 Feb 5 2016 - UAE's Career Fair 2016 kick-start with huge potentialMENAFN
(MENAFN) The Abu Dhabi City Municipality is participating in the Career Fair 2016, under the umbrella of the Department of Municipal Affairs, which launched in in Abu Dhabi National Exhibition ...

 Feb 5 2016 - Industries Qatar register USD1b gross profit over 2015MENAFN
(MENAFN) Industries Qatar, one of the region's industrial behemoths which specializes in the production of a wide range of petrochemical products, reported financial results for the period ended Dec, ...

 Feb 5 2016 - At least 2297 journalists killed since 1990: IFJThe Peninsula
(MENAFN - The Peninsula) Brussels: At least 2297 journalists and media workers have been killed in the last 25 years with Iraq ranking as the most deadly country the International Federation ...

 Feb 5 2016 - US accuses Damascus Moscow of seeking military solution in SyriaThe Peninsula
(MENAFN - The Peninsula) Washington:US Secretary of State John Kerry accused Moscow and Damascus of seeking a military solution to the war in Syria rather than a political one Wednesday after ...

 Feb 5 2016 - Greek bus drivers migrants block highway over border impasseThe Peninsula
(MENAFN - The Peninsula) Migrants walk to buses that will transport them to the Greek-Macedonian border following their arrival aboard the passenger ferry Eleftherios Venizelos at the port of Piraeus ...

 Feb 5 2016 - Passengers crew evacuated from Madrid Riyadh after bomb threatThe Peninsula
(MENAFN - The Peninsula) MADRID: Spanish authorities evacuated allpassengers and crew from a flight bound for Riyadh SaudiArabia at Madrid's Barajas international airport after a bombthreat ...

 Feb 5 2016 - US demands end to Russia strikes after Syria talks collapseThe Peninsula
(MENAFN - The Peninsula) U.S. Secretary of State JohnKerryspeaks at the donors Conference for Syria in London Britain February 4 2016. REUTERS London:The United States demanded Thursday that ...

 Feb 5 2016 - Five Czechs found in Lebanon on way home: ministerThe Peninsula
(MENAFN - The Peninsula) Foreign Minister Lubomir Zaoralek said on Thursday Five Czechs found in Lebanon following their suspected kidnapping last July are in a Czech government plane on their way to ...

 Feb 4 2016 - Pakistan to receive 497mn tranche of IMF loan: officialsThe Peninsula
(MENAFN - The Peninsula) Islamabad: The International Monetary Fund announced Thursday it would release the latest instalment worth $497 million of a three-year economic bailout package to ...

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

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