Doha Bank Achieves Net Profit of QR. 704 Million for 2021
His Excellency Sheikh Fahad Bin Mohammad Bin Jabor Al-Thani, Chairman of the Board of Directors of Doha Bank, announced that the Board of Directors (BOD) in its meeting held on 9th of February 2022 has approved the draft of the Bank’s audited financial statements for the year ended 2021. His Excellency added that the net profit of the Bank for the year 2021 is QR 704 million after taking additional extraordinary provision during this year for more cautions. At the same meeting, the BOD has decided to present a recommendation to the General Assembly to distribute cash dividends to shareholders for QR (0.075) per share.
Following are the board resolutions:
- Approved the draft of the audited financial statements for the year 2021.
- To submit a recommendation to the Ordinary General Assembly to distribute cash dividends to shareholders for QR (0.075) per share.
- Approved the Agenda of the Ordinary and Extra Ordinary General Assembly Meeting of the shareholders.
- To call the Ordinary and Extra Ordinary General Assembly of the Shareholders for a meeting on the 14/3/2022, and in the event the quorum is not met, a second meeting will be held on the 23/3/2022.
His Excellency also stated that the net interest income significantly grew by 11.4% as compared to last year to reach QR 2.6 billion. The net operating income stood at QR 3.1 billion registering a growth of 5.8% compared to last year. Total assets amounted to QR 101.1 billion as at 31 December 2021. Net loans and advances reached QR 62.7 billion as at 31 December 2021. The investment portfolio amounted to QR 25.1 billion, Customer deposits stood at QR 50.4 billion as at 31 December 2021.
He also declared that the total shareholder’s equity by end of 2021 reached to QR. 14.3 billion while the earnings per share was QR 0.16 and the return on average shareholders’ equity was 5.2% and the return on average assets was 0.69%.
H.E. Sheikh Fahad added that the audited financial statements, declared net profit, distribute cash dividends to shareholders for QR (0.075) per share an equivalent of 7.5% of the paid up capital are subject to the approval of the concerned regulatory authorities and the General Assembly of the Shareholders. He also said that the Board of Directors and the Executive Management will work together to achieve the objectives that are outlined in the Bank’s strategy for the coming five years.
Fahad Bin Mohammad Bin Jabor Al-Thani