(MENAFN- The Peninsula) Sheikh Fahad bin Mohammad bin Jabor Al Thani, Chairman of Doha Bank, announced the financial results for the first quarter of 2015. Net profit recorded an impressive QR420m as compared to QR399m for the same period in 2014, showing an increase of 5.2 percent. Sheikh Fahad said "This is another outstanding result and is clear demonstration that Doha Bank continues to perform consistently."
The bank increased net operating income by 2.3 percent to QR714m. Total assets increased by QR4.1bn, a growth of 6 percent, from QR70.1bn as on March 31, 2014 to QR74.2bn as on March 31, 2015. Net loans and advances increased to QR50.8bn from QR43.4bn for the same period last year, registering a growth of more than 17 percent. Customer deposits showed a year on year increase of 4 percent from QR43.5bn to QR45.2bn, which is evidence of the strong liquidity position of the bank.
Sheikh Abdul Rehman bin Mohammad bin Jabor Al Thani, Managing Director of Doha Bank, said "The Bank has become extremely strong over the years with total equity, as on March 31, 2015, at QR10.7bn, registering an increase of 1.2 percent during the last twelve months. Through the strategic utilisation of the shareholder's funds by way of increasing our performance levels the return on average shareholders' equity is 19.7 percent as on March 31, 2015 one of the best in the industry. The Bank, given the scale of operations, has achieved a very high return on the average assets of 2.25 percent, which is a clear demonstration of the effective utilisation of shareholder's funds and optimum asset allocation strategies".
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