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Doha Bank Achieves Goals; Balanced Growth in 2008

DUBAI - Doha Bank has registered a balance growth last year, achieving all the goals outlined in the strategic plan and budget 2008.

Announcing the results, Shaikh Fahad bin Mohammad bin Jabor Al Thani, Chairman of the Board of Directors of Doha Bank, said, “The total assets rose by QR9 billion to QR39 billion in 2008, registering an increase of 30 per cent when compared with 2007. Net loans and advances increasing by QR4.8 billion to QR 24 billion in 2008, registering an increase of 25 per cent when compared with 2007.”

“The customer deposits increased by QR3.3 billion to QR23.30 billion in 2008, registering an increase of more than 16 per cent when compared with 2007. Net Profit for 2008 was QR946.5 million with operating income of the bank increasing by more than 16 per cent in 2008 when compared with 2007, he said.

“We have continued with our credible performance ratios achieved through highest organisational and service level commitments again in 2008. In this regard the Board has also recommended 50 per cent dividend payout for 2008 to its shareholders, who are our strong pillars of support all these years,” he said.

“In 2008 the bank has achieved all the goals outlined in the strategic plan and budget. 2008 achievements include enhancement and strengthening the bank’s financial position and realising the best ratio of return on shareholders’ equity in addition to launching numerous new banking services and products particularly in the fields of e-banking and Islamic banking,” he said.

In 2008, the Bank also witnessed improvements in staff quality through the recruitment of highly qualified and experienced professionals for key managerial posts and expansion in the operations locally, regionally and internationally.

The Bank has also focused on attracting Qatari staff, enrolling them for intensive training courses and deputing them in the bank’s international offices to provide them with rich work experience through its Global Training Programme. These key achievements were well appreciated by the business communities.

aneela@khaleejtimes.com