Dukhan Bank AGM approves 16% cash dividend for 2022

The shareholders of the newly-listed Dukhan Bank have approved 16% cash dividend for 2022.
At the annual general assembly meeting, held electronically, the shareholders approved the board report on the results of the bank and financial statements for the year ended December 31, 2022, and discussed plans for 2023.
The dividends will be deposited directly into the bank accounts of the shareholders whose details are registered with the Qatar Central Securities Depository, or at the bank’s shareholders affairs department.
Sheikh Mohamed bin Hamad bin Jassim al-Thani, chairman, presented a comprehensive report on the bank’s activities and financial outlook, highlighting the most significant results in the review period.
The bank recorded a net profit of QR1.25bn, representing an increase of 5% compared to 2021 with an earnings per share of QR0.227, while the total income increased to QR4.5bn, showing a solid double-digit growth of 10% from the previous year.
While net income from financing activities grew to QR3.2bn, marking year-on-year growth of 10%, the bank’s total assets reached QR106bn and financing assets increased to QR76bn with a growth of 1% over 2021.
These encouraging financial results are a reflection of the bank’s sustained strong performance, its leading position in the Qatari market and the integrity of the risk management systems it follows, the bank said.
Sheikh Mohamed said the bank’s “exceptional” performance can be attributed to the adoption of digital transformation, which contributed significantly to providing easy-to-use and seamless financial services to customers. In addition, the bank boosted its online banking portfolio by enhancing its website and mobile application, improving the efficiency of the call centre, and using Dukhan Bank’s contactless payment methods.
In 2022, Dukhan Bank scaled up its digital products with the launch of Mastercard’s global Digital First Card, making it the first partner in Qatar to join the global programme.
The bank also unveiled Investment Tracking, a new digital feature for private banking customers to assist them to view their investment portfolios at ease; and launched its direct remittance service to India, allowing customers to send remittances directly to India from Dukhan Bank’s app safely and securely within 60 seconds.