Doha Bank discloses its Financial Statements for the year 2016

 

January 23, 2017

 

Doha Bank discloses its financial statements for the year ended December 31, 2016.  The statements show net profit of QR. 1,054 million compared to net profit amounting to QR. 1,354 million in the previous year.

 

Earnings per Share (EPS) amounted to QR 3.23 for the year ended December 31, 2016 compared to Earnings per Share (EPS) amounted to QR. 4.58 in the previous year.

 

The Board of Directors is recommending to the Ordinary General Assembly to distribute cash dividends to the shareholders for QR 3.0 per share.

 

The Groups' Comment

 

Doha Bank's net operational income declined by 2.3% to QR 2.75 billion in 2016, including QR2.07 billion as interests and QR 459.8 million as net fees and commission.  Expenses and losses increased by 16.8% to QR1.7 billion, including QR516.3 million as staff costs, QR 480.2 million lost as result of negative change in the value of investments, and QR468 million as loan loss. As result, net income declined by 22.1% to QR1052.8 million. Comprehensive income increased to 1214.9 million as result of a positive change in the fair value.