492 million riyals, the bank’s net income from interest
96.6 billion Qatari riyals total assets
His Excellency Sheikh Fahad bin Mohammed bin Jabor Al Thani, Chairman of the Board of Directors of Doha Bank, announced the financial results of Doha Bank for the first quarter of 2023, where he stated that the bank achieved a net profit of 209 million Qatari riyals, and he also stated that the bank achieved net income from Interest in the amount of QR 492 million, an increase of 2% compared to the fourth quarter of 2022. Net operating income amounted to QR 638 million, a marginal increase of 1% compared to the fourth quarter of 2022, and the bank was able to manage its costs very efficiently as evidenced by the decrease The volume of the total cost increased by 2.2% during the first quarter of 2023 compared to the same period of the previous year. His Excellency added that the total assets amounted to 96.6 billion Qatari riyals as of March 31, 2023, and that net loans and advances amounted to 56.6 billion Qatari riyals. The value of the investment portfolio amounted to 25 billion Qatari riyals, while customer deposits amounted to 48.6 billion Qatari riyals as of March 31, 2023.
Exerting efforts, as His Excellency Sheikh Fahd bin Mohammed bin Jabor Al Thani, Chairman of the Board of Directors said, that under the wise and prudent leadership pursued by His Highness Sheikh Tamim bin Hamad Al Thani, Emir of Qatar, and his lofty directives to provide support to all sectors in the country and based on the instructions issued by Dear Qatar Central Bank, in this regard, Doha Bank will continue to make every effort to be a fundamental pillar in supporting companies and individuals to benefit from all possible facilities in line with the plan pursued by the State of Qatar.
For his part, HE Sheikh Abdul Rahman bin Mohammed bin Jabor Al Thani, Managing Director of Doha Bank, said that the total shareholders’ equity as of the end of the first quarter of 2023 amounted to 13.9 billion Qatari riyals. Given the size of its operations, the bank achieved a return on average equity of 6.3% and a return on average assets of 0.86%. The Bank also continued to enhance its most important capitalization metrics, as the Bank’s total capital adequacy ratio reached 19.4% as of March 31, 2023.
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