Doha Bank Net Profit Falls to QR737.5 Million in Q3 2018

October 18, 2018

Doha Bank net profit amounted to QR7373.5 million, compared to QR1049 million for the same period last year, while the bank’s earnings per share reached QR2.38, versus QR3.61 for the corresponding period of 2017.

The Group’s Comments:

Doha Bank net operating income for the nine months ended on 30/9/2018 decreased by 6.4% to QR 2,030 million, of which QR 1,603.2 million generated by interests. The bank’s total expenses increased by 15.3% to QR 1,287.5 million, of which QR 389.5 million spent on staff costs and QR 629.8 million went to losses in value of loans. Consequently the net profit fell 29.7% to QR737.5 million. It should be noted that there was a positive change in the fair value of QR202.7 million. All resulted in a comprehensive income increase to QR 940.1 million, although it remained below QR 1,099.2 million recorded in the corresponding period of 2017.