Doha Bank reported a 10.1% year-on-year (y-o-y) net profit increase to reach QR690mn in the first nine months of 2024.

Doha Bank Chairman Sheikh Fahad bin Mohammad bin Jabor al-Thani said total assets stood at QR109.9bn, a 14.1% increase or QR13.6bn, compared to QR96.3bn same period last year; while net loans and advances reached QR61.1bn, up 7.9% y-o-y.

Customer deposits grew by QR6.6bn or 14.5% higher to reach QR51.9bn compared to QR45.3bn last year.

Doha Bank Managing Director Sheikh Abdul Rahman bin Mohammad bin Jabor al-Thani said, “The bank continues to maintain stable capital and liquidity positions. The Common Equity Tier 1 (CET1) ratio reached 13.52% and the Total Capital Adequacy Ratio is strong at 19.74%.

“The loan-to-deposit ratio continues to be within regulatory limits, reaching 98.34%. The bank has significantly improved its funding profile over the last nine months, and this will allow the bank to fund future lending growth, which we are anticipating for this year.”

Liquidity coverage ratio continues to be high at 149%, up from year-end 142%. The total shareholder’s equity reached QR14.9bn, showing an increase of 3.9% as compared to last year.

Doha Bank Group CEO Sheikh Abdulrahman bin Fahad bin Faisal al-Thani said, “The bank remains on course with the Himma Transformation. The improved financial performance reflects Doha Bank's Himma transformation journey, which involves putting its strategic goals into action. Increasing the growth of profitable assets and low-cost liabilities, improving our digital capabilities, increasing cost efficiencies, and bolstering the bank's stability and sustainability will remain our top priority. Our goal as a bank is to provide our investors with sustainable growth and long-term value.”