Doha Bank releases 2021 profits

Doha Financial institution launched Thursday its revenue figures for final yr. 

The financial institution achieved 704 million Qatari riyals ($193.4 million) in income in 2021. Doha Financial institution’s board of administrators additionally voted to pay money dividends to shareholders at a charge of 0.075 Qatari riyals ($0.02) per share, the financial institution mentioned in a press launch. 

Doha Financial institution is among the greatest banks in Qatar. The one-time accountant Raghavan Seetharaman, who’s initially from India, has been credited with turning the financial institution right into a revered world monetary establishment since turning into CEO in 2002. The financial institution has branches around the globe, together with within the United Arab Emirates and Kuwait. 

Doha Financial institution’s income in 2020 have been virtually 703 million Qatari riyals ($193.1 million). 

However, the worth of Doha Financial institution’s property went down from 2020 to 2021. Final yr, the financial institution’s property amounted to 101.1 billion Qatari riyals ($27.8 billion). In 2020, the property amounted to 103.5 billion Qatari riyals (28.3 billion). The property embody investments, clients deposits and loans. The financial institution’s web loans and advances in addition to its buyer deposits fell in 2021, although its funding portfolio elevated in worth, in accordance with the financial institution’s figures. 

Doha Financial institution has some rivals in Qatar, together with Qatar Worldwide Islamic Financial institution and Qatar Nationwide Financial institution.