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 6th of February 2023 has approved the draft of the Bank’s audited financial statements for the year ended 2022. His Excellency added that the net profit of the Bank for the year 2022 is QR 765 million compared to QR 704 million in 2021 and increased by 8.8%. 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 2022.

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 Extra Ordinary and Ordinary General Assembly Meeting of the shareholders.

To call the Extra Ordinary and Ordinary General Assembly of the Shareholders for a meeting on 8/3/2023, and in the event the quorum is not met, a second meeting will be held on 14/3/2023.

His Excellency also stated that the net interest income reached to 2.3 billion, net commission income grew by 22.4% and reached to QR 371 million. The net operating income stood at QR 2.9 billion. Total assets amounted to QR 97.6 billion as at 31 December 2022. Net loans and advances reached QR 58.1 billion as at 31 December 2022. The investment portfolio amounted to QR 25 billion, Customer deposits stood at QR 50.1 billion as at 31 December 2022.

He also declared that the total shareholder’s equity by end of 2022 reached to QR. 14.1 billion while the earnings per share was QR 0.25 and the return on average shareholders’ equity was 5.8% and the return on average assets was 0.77%. The bank continued to strengthen its key capitalization ratios, where the total capital adequacy ratio of the bank stood at 19.94% which is considered one of the best ratios as on 31st December 2022

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.

Source: Doha Bank