Doha Bank has seen a productive first half of 2015 despite modest net profit growth of less than 2 percent.
The bank increased total assets by just less than 15 percent over the same period last year, with a rise of nearly $3 billion. Doha bank now holds more than $22 billion in total assets.
Sheikh Fahad Bin Mohammad Bin Jabor Al-Thani, chairman of Doha Bank’s board of directors, said the year’s first half numbers are evidence of the strong liquidity position of the bank and show “clear demonstration that Doha Bank continues to perform consistently.”
The amount of net loans and advances out on market increased to more than $14.5 billion compared with less than $12.5 billion over the first half of 2014. That means a net growth of more than 17 percent in loans and advances.
Doha Bank also had a strong first half of the year in terms of customer deposits. Total deposits are up more than 16 percent from just more than $12 billion last year to more than $14 billion as of June 30.
“Doha Bank’s strong results highlight the strength of its products and services, ongoing customer demand, strategy to capitalize on market synergies in a challenging and competitive environment,” Rahavan Seetharaman, Doha Bank’s CEO, said.
