Doha Bank net profit rises 5.6% to QR401 million in Q1 2022

Doha Bank on Wednesday announced that the bank recorded a net profit of QR401 million in the first quarter of 2022, showing an increase of 5.6 percent as compared to QR380 million for the same period in 2021.
Doha Bank Chairman Sheikh Fahad Bin Mohammad Bin Jabor Al Thani, who announced the financial results for the first quarter of 2022, said that the bank’s total assets amount stood at QR101.8 billion as of March 31, 2022. Net loans and advances stood at QR60 billion and customer deposits at QR54.5 billion as at March 31, 2022.
Doha Bank Managing Director Sheikh Abdul Rehman Bin Mohammad Bin Jabor Al Thani said, “The total shareholder’s equity by end of the first quarter reached QR14 billion. The bank continued to strengthen its key capitalisation ratios, where the total capital adequacy ratio of the bank increased to 19.8 percent in March 2022 from 19.7 percent as compared to the same period last year.”
The chairman stated that despite the circumstances the world is currently witnessing, Qatar’s decision to provide support to all sectors and banks in the face of the COVID-19 crisis, and based on the instructions issued by Qatar Central Bank in this regard, Doha Bank will make all efforts to be the main pillar in supporting companies and individuals in benefiting from all possible facilities, and will work in line with the plan pursued by the country.