Doha Bank Net Profit Drops to QR470.7 Million in 1^st Half of 2018

July 22, 2018

Doha Bank’s net profit amounted to QR470.7 million, compared to QR715.5 million for the same period last year, while the bank’s earnings per share recorded QR1.52, versus QR2.56 for the corresponding period in 2017.

The Group’s Comments:

Doha Bank's net income decreased by 5.7% for the first half of 2018 to QR1,365.3 million due to higher interest expenses and, to a lesser extent, higher fees and commission expenses. The banks general expenses increased by 22% to QR890.8 million due to a decrease in the value of loans and advances amounting to QR448.4 million, compared to QR131.4 million in the corresponding period of 2017. As a result, the net profit declined by 34.2% to QR470.7 million, and total income decreased to QR433.4 million.