Doha, Qatar: Doha Bank announced its financial results for the period ended 31 December 2024. Sheikh Fahad bin Mohammad bin Jabor Al Thani (pictured), Chairman of the Board of Directors of Doha Bank, announced the bank’s Consolidated Financial Statements for the period ended 31 December 2024. He added that the net profit of the Bank for the full year 2024 amounted to QR851m, representing an increase of 10.7% as compared to the same period in 2023, the previous year.
Based on these results, the Board of Directors passed a resolution in its meeting held yesterday, recommending to the General Assembly of the Shareholders to approve the distribution of cash dividends of QR0.10 per share, an equivalent of 10.0% of the paid-up capital.
Sheikh Fahad said that total assets as at December 31, 2024 reached QR110.2bn to grow by QR9bn representing 8.9% as compared to QR101.2bn same period last year, while net loans and advances reached to QR61bn indicating a growth of 5.1% as compared to the same period last year.
Sheikh Abdul Rahman bin Mohammad bin Jabor Al Thani, Managing Director of Doha Bank said, “The bank continues to maintain stable capital and liquidity positions. The Common Equity Tier 1 (CET1) ratio reached 13.3% and the Total Capital Adequacy Ratio is strong at 19.60%”.
Sheikh Abdul Rahman, further added, “The loan to deposit ratio continues to be within regulatory limits, reaching 98.25%. The bank has significantly improved its funding profile over the last year, and this will allow the bank to fund future lending growth, which we are anticipating in 2025.” “The financial performance has improved annually as a result of several measures that have been implemented during the Himma transformation process,” said Sheikh Abdulrahman bin Fahad bin Faisal Al Thani, Group CEO at Doha Bank. Moving forward we will continue to expand low-cost liabilities and profitable assets, bolstering the bank’s sustainability and stability, improving our digital capabilities, and increasing cost savings will remain our top priority. Our goal as a bank is to provide consistent growth and long-term value to our investors. Doha Bank achievements show its dedication to boosting shareholder value and advancing Qatar’s economic diversification goals.
Sheikh Abdulrahman bin Fahad bin Faisal Al Thani, Group CEO at Doha Bank, commented: “These milestones underscore our commitment to leveraging innovation, partnerships, and social responsibility to drive progress and create lasting value for our stakeholders.”
