Message from the Group Chief Executive Officer


Doha Bank CEO

The recent IMF outlook had given global growth of 3.1 percent in 2016. A more subdued outlook for advanced economies following the June U.K. vote in favor of leaving the European Union and weaker-than-expected growth in the United States. As a result, the 2016 growth forecast for advanced economies has been marked down to 1.6 percent. Emerging and developing economies expected to grow by 4.2 percent this year.

The net profit for Q3 2016 is recorded at QAR 1,019 million despite the sharp decline in the oil prices and the challenges in the financial markets across various countries. The bank sustained the core income as the net interest income is up by 2.1% as compared to same period in 2015. Total assets increased by QAR 2.1 billion, a growth of 2.6%, from QAR 82.3 billion as at 30 September 2015 to QAR 84.5 billion as at 30 September 2016.

Net Loans & Advances increased to QAR 55.6 billion as at 30 September 2016 from QAR 54.4 billion for the same period last year, registering a growth of 2.1%. Deposits stood at QAR 48.6 billion as at 30 September 2016, a decrease of 6.6% from last year same period. The Bank has become extremely strong over the years with total equity, as at 30 September 2016, at QAR 13.4 billion, registering an increase of 1.5% during the last twelve months. Through the strategic utilisation of the shareholder’s funds by way of increasing our performance levels the return on average shareholders’ equity is 14.8% as at 30 September 2016 one of the best in the industry. The Bank, given the scale of operations, has achieved a very high return on the average assets of 1.62% as at 30 September 2016 which is a clear demonstration of the effective utilization of shareholder’s funds and optimum asset allocation strategies.

Doha Bank launched ‘Biometric Access’ for mobile banking application. The new enhanced version of Doha Bank mobile banking application offers users the option of using fingerprints to authenticate identities to sign in to mobile banking – instead of user ID and password. The other new features introduced in the application also include local fund transfer, D-Cardless withdrawals, Western Union Money Transfer, remittances through credit card, click card reload etc in addition to its extensive list of services.” Doha Bank recently won the ‘Product of the Year in Middle East 2016 for Doha Bank’s Mobile Banking Experience’ from ‘The Asian Banker’ in recognition of the superior service offered through the mobile banking application. Also, on account of displaying best practice and transparency in investor relations, Doha Bank was awarded as the best Qatari company for ‘Excellence in Investor Relations’ under the mid-cap category.

In yet another year of offering life-changing rewards and opportunities for its customers, Doha Bank offered various limited period offers such as ‘0% payment plans’, ‘free cabin bag’ and ‘complementary gift vouchers’ in coordination with popular merchants for all its credit card customers. In recognition of Doha Bank’s ability to maintain strong growth trajectory, total asset growth, loan growth and deposit growth year-on-year, Doha Bank’s credit ratings were re-affirmed by various credit rating agencies.

During the first quarter, Doha Bank also held an economic knowledge sharing session in Dubai on the topic ‘Changing Dynamics and Market Opportunities’. This was preceded by another knowledge sharing session on ‘Growing opportunities in Qatar’ which was held in Doha, Qatar, which was well attended by senior Bankers and dignitaries. These knowledge sharing sessions, not only help in creating awareness on the changing market dynamics, but also promote the bilateral relationship between GCC, India and various countries in which Doha Bank has its presence.

Doha Bank held an Ordinary General Assembly of Shareholders, wherein it was unanimously agreed for Doha Bank to issue Certificate of Deposits (CD) program and Commercial Papers (CP) program subject to necessary regulatory and other approvals. Subsequently, Doha Bank became the first Qatari Bank to tap the Taiwanese market on a loan syndication by successfully completing a syndicated borrowing with an overwhelming response securing USD 180 million for 3 Years with cost effective pricing. Doha Bank has recently updated its EMTN programme which is listed on the London Stock Exchange.Doha Bank in line with its international expansion strategy and specific growth focus in India, inaugurated its relocated Kochi Branch at Lulu Mall. Doha Bank has also entered into a Memorandum of Understanding (MoU) with Centrum Group, India to facilitate the development of GCC business for Centrum with its network while Centrum will reciprocate with the same in India for Doha Bank specifically in the areas of Banking, Wealth Management and Forex. Doha Bank established its 13th representative office in Bangladesh and plans to formally inaugurate the same in Q4 2016.

Doha Bank has always maintained that Customer is our priority and all the initiatives undertaken by us one way or other benefits the customer. It is the trust and confidence that our customers have placed on us that has allowed us to move forward with excellent perspective.

Dr. R. Seetharaman
Group Chief Executive Officer