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
 May 24 2015 - Kuwait- Min. of Amiri Diwan receives KISR delegationKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Minister of Amiri Diwan Affairs Sheikh Nasser Sabah Al-Ahmad Al-Sabah received a delegation of the Kuwait Institute for Scientific Research (KISR) including Dr. ...

 May 24 2015 - Kuwait- His Highness Crown Prince receives top officialsKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) His Highness the Crown Prince Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah received on Sunday at Bayan Palace His Highness the Prime Minister Sheikh Jaber Al-Mubarak ...

 May 24 2015 - GCC-EU ministerial meeting held amidst critical developments - Qatari FMKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Qatari Foreign Minister Khaled Al-Attiyah said GCC-EU ministerial meeting, in Doha on Sunday, was held amidst critical regional and international developments, ...

 May 24 2015 - Kuwait- Info Min. stresses important role of FANA amid current circumstancesKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Minister of Information and Minister of State for Youth Affairs Sheikh Salman Sabah Salem Al-Humoud Al-Sabah on sunday underlined the important role of the ...

 May 24 2015 - Arab army chiefs resume meetingKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The chiefs of staff of Arab armed forces resumed their meeting here Monday under chairmanship of the Chief of Staff of Egyptian Armed Forces Lieutenant General ...

 May 24 2015 - Kuwait- His Highness Premier meets Iraq parliament speakerKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah held talks Sunday at Bayan Palace, with the visiting Iraqi Speaker of the Council of ...

 May 24 2015 - EU major partner for GCC - ZayaniKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The European Union (EU) has been a key partner for the Gulf cooperation Council (GCC) since the six-member bloc was established in 1981, according to GCC ...

 May 24 2015 - Salmiya Sports Club Reign SupremeArab Times
(MENAFN - Arab Times) The Salmiya Sports Club won the Kuwait Karate Federation Junior category trophy for 2014/2015 Championships. The finals and awarding ceremony were held under the auspices of the ...

 May 24 2015 - Q8 Opens First CNG Service Station In BelgiumArab Times
(MENAFN - Arab Times) The international arm of Kuwait Petroleum, Q8, on Thursday took another big step and major milestone in strengthening and expanding its presence in Europe by opening its first ...

 May 24 2015 - Kuwait- Wataniya Telecom Dives 40 Fils NBK FlatArab Times
(MENAFN - Arab Times) Kuwait stocks headed south on Thursday to close the week on a sour note. The key index dropped 46.87 pts to 6332.27 points snapping the 2-day upswing. The banking shares were ...

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