Business | Banking
Doha Bank second-quarter net profit increases 25 per cent
Doha Bank announced an increase of net profit for the first half of 2008 to QR 579.27 million, compared to QR 462.59 million for the same period in 2007, or an increase of more than 25 per cent.
- Staff Report
- Published: 17:00 July 22, 2008
Doha, Qatar: Shaikh Fahad Bin Mohammad Bin Jabor Al Thani, Chairman of Board of Directors of Doha Bank, announced an increase of net profit for the first half of 2008 to QR 579.27 million, compared to QR 462.59 million for the same period in 2007, or an increase of more than 25 per cent.
Doha Bank's earnings per share, after considering the equity injunction by way of 15 per cent rights issue in second quarter 2008, increased to 3.59 when compared to QR 2.94 in the corresponding period of the previous year, maintaining a growth percentage of 22 per cent. Net interest income rose by 45.52 per cent to QR 465 million.
Exchange income rose by 55.82 per cent to QR 34.15 million. The deposits have grown by 50.42 per cent to QR 25 billion from QR 16.62 billion for the same period last year.
Net loans & Advances as at 30 June 2008 increasing by QR 6.85 billion from QR 16.54 billion as at 30 June 2007 to QR 23.39 billion as at 30 June 2008, registering a growth of 41.41 per cent.
Total assets increased to QR 36.77 billion as at 30 June 2008 registering a growth of 38 per cent, from QR 26.65 billion as at 30 June 2007.
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