Message from the Group Chief Executive Officer

Doha Bank CEO

According to IMF Jan 2018 Outlook, the advanced economies expected to grow by 2.3% in 2018 and 2.2% in 2019 respectively. The emerging and developing economies expected to grow by 4.9% in 2018 and 5% in 2019 respectively. The Fed meeting in Jan 2018 has acknowledged the quickening pace of inflation and has forecast three rate increases this year after raising borrowing costs three times in 2017.

The total assets rose by QR. 3.1 billion from QR 90.4 billion in 2016 to QR 93.5 billion in 2017 i.e. a growth rate of 3.5%. Loans & advances rose from QR 59.2 billion in 2016 to QR 59.8 billion in 2017 i.e. a growth rate of 1.0%. The customer’s deposits grew by 6.7%, where the total deposits increased from QR 55.7 billion in 2016 to QR 59.5 billion in 2017. The total shareholders’ equity reached to QR 14.8 billion by year end with an increase of 10.7% compared to last year.

Doha Bank’s net interest income for 2017 has surged on account of prudent asset allocation across loans and investments, pragmatic lending and enhanced exposure from debt The forex income is up by capitalizing on volatile market conditions. The deposit growth is up on account of strengthening our liquidity management Doha Bank’s trade finance portfolio is growing well and we are also looking forward to expand further in the Asia region.

Standing in solidarity with the nation and in support for HH the Emir Sheikh Tamim Bin Hamad Al Thani, Doha Bank has adorned its corporate headquarters building with a new branding depicting the iconic ‘Tamim Al Majd’ artwork. Doha Bank launched Non-Resident Indians (NRI) Home Loan and Wealth Management product, ‘Estate Planning’ through Warmond preceded by ‘Doha Miles’, its new loyalty program. In line with the bank’s continuing re-alignment of its domestic branch network, Doha Bank inaugurated its new branch in Mall of Qatar, opened another new branch at Doha Festival City in addition to relocating the Airport branch. The fourteenth ‘Al Dana’ savings scheme’s seven prize draws till date, got to see the winners including a popular international football player, walk away with life-changing prizes. In a step aimed at rewarding environmentally-conscious new homeowners, Doha Bank, has launched Qatar’s first ‘Green Mortgage’ home loan program. Prior to this, Doha Bank announced a car loan offer bundled with a free Comprehensive Car Insurance, retail home loan offer with 12 months payment holiday.

Doha Bank unveiled a first-of-its-kind mobile application ‘Doha Bank MyBook Qatar’ as well as new international money transfer to 200+ countries through its new mobile banking application. On the corporate side, Doha Bank continued its commitment to both GRE and local private sector, by signing big ticket deals such as QIMC. Doha Bank is revamping its ‘Al Riyada’ proposition by offering Visa Infinite Card, digital customer onboarding, 1 hour loan approval with special interest rate, global cash back, flexi save account, insurance solutions etc Doha Bank has also extensively leveraged on its vast international network to garner cost effective deposits. Doha Bank Assurance Company (DBAC) has come out with yet another innovative offer with 2nd year free car insurance, if no claims are made in the 1st year.

Doha Bank as well as DBAC’s long term (local and foreign currency) credit ratings were re-affirmed and removed from credit watch by S&P in recognition of its ability to maintain strong growth trajectory. This was preceded by Moody’s reaffirming Doha Bank’s rating at ‘A2’, and Capital Intelligence re-affirmed Doha Bank’s financial strength rating and the Long-Term Foreign Currency Rating.

During the year, Doha Bank held various knowledge sharing sessions and breakfast meetings in Qatar, Oman, Kuwait, Singapore, Australia, the United Kingdom, the United States and South Korea, which were well attended by senior government representatives and business community. In addition, the bank participated in various panel discussions. Doha Bank has successfully renewed the ISO 20000-2011 certification for the 10th year in a row. In line with its commitment to hiring the best talent in the country, Doha Bank participated in the career fairs organized by Qatar University and Community College. As part of the employee engagement, the Bank organized long service awards, monthly staff recognition as well as various sporting events.

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