DOHA: Barwa Bank Group, Qatar’s fastest growing Shariah-compliant banking service provider, has recorded a net income of QR345m for 2012, up 41 percent compared to the previous year.
The total assets of the group increased by 32 percent to reach QR25.3bn, a result of 66 percent growth in the financing portfolio from QR9.2bn to QR15.3bn. The customer deposits rose from QR10.1bn to QR14.8bn in 2012.
Barwa Bank continued to diversify through the successful debut of its Private Banking proposition in 2012. It also identified another growth area, making major investment in its Treasury and Capital Markets capacity and capability. During the year, the bank won lead management roles in a number of high-profile sukuk transactions with the spectacularly successful Qatar issue a particular highlight.
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 recognising its innovative products, outstanding service and exceptional growth. One of the bank’s highlights was being named winner of the Islamic Business and Finance Awards for “Best Bank”, along with “Best Branding” and “Best Domestic Corporate Bank in the Region”.
Barwa Bank achieved 20 percent Qatarisation at a Group level. The Group has prominent Qatari professionals in a number of key leadership roles.
The Peninsula
