The Resolutions of the General Assembly Meeting of the Shareholders

Board Meeting 2018

The Resolutions of the General Assembly Meeting of the Shareholders

H.E. Sheikh Fahad Bin Mohammad Bin Jabor Al-Thani, Chairman of Doha Bank, announced that the Ordinary General Assembly of the Shareholders in its meeting held on 07 March 2018 endorsed the Board of Directors’ corporate Governance report for year 2017 and the balance sheet and profit & loss account for the financial year ended on 31/12/2017 and also endorsed the Board’s recommendation to distribute cash dividends of QR 3 per share to the shareholders. During the same meeting, H.E. the Chairman and Board members were discharged from the responsibility for the year 2017 and their remunerations were determined. His Excellency also stated that the AGM has agreed for Doha Bank to issue Debt Notes “Bonds” using Doha Bank EMTN programme within the main components shown in the agenda and agreed to reduce the minimum amount per issuance under the commercial papers programme from US$ 50 Mn to US$ 1Mn. AGM has also appointed KPMG to audit Doha Bank’s accounts for the year 2018.

He also stated that the EGM has endorsed the amendments on the Articles of Association of the Bank in accordance with Corporate Governance code issued by Qatar Financial Markets Authority and Qatar Central Bank and authorized the Chairman and/or the Vice Chairman and/or the Managing Director to individually sign the amended Articles of Association and complete the procedures for obtaining the necessary approvals from the concerned parties, and ratifying the authorization.

H.E. Sheikh Fahad Bin Mohammad Bin Jabor Al-Thani extended his sincere thanks and gratitude to the Board members and Executive Management for their efforts and achievements during the year and to the shareholders, representatives of the supervisory authorities in the State of Qatar and the auditors and wished them all the success and prosperity.

Fahad Bin Mohammad Bin Jabor Al-Thani,
Chairman

Statement of H.E. Chairman of the Board

The General Assembly Meeting Held on March 7th, 2018

In the Name of God, Most Gracious, Most Merciful,
Dear Shareholders,
Ladies & Gentlemen,
Al Salamu Alaykum…

On behalf of myself and the members of the Board of Directors (BOD), I would like to thank you all on this occasion for attending this meeting. I would also like to extend my sincere thanks to the BOD and the Executive Management for the achievements accomplished during the year 2017.

The challenges faced by Capital markets in this region have adversely affected all sectors this year including the banking sector and market liquidity. Nevertheless, due to the wise leadership of His Highness, Sheikh Tamim Bin Hamad Al-Thani, The Emir of Qatar, as well as the wise directives of the government and the cooperation of all governmental institutions in the country, we were able to overcome these problems and difficulties.

An overview of the results of 2017 reveals that we have achieved good growth rates in most financial indicators. The total assets rose by 3.5% reaching to QR 93.5 billion, total portfolio of loans and advances rose by 1%, total customers’ deposits rose by 6.7% and the total shareholders’ equity reached to QR 14.8 billion. We also achieved net profit by the end of the year of QR 1,110 million compared to QR 1,054 million in 2016. These robust results were reflected in the performance indicators particularly the return on average shareholders’ equity i.e. (11.9%) and the return on average assets i.e. (1.21%). Based on these results, the BOD decided to put up a recommendation to the AGM to distribute cash dividend of QR (3) per share i.e. 30% of the paid up capital.

During the year, the Board of Directors approved the bank’s five-year strategic plan, which incorporates certain amendments to the bank’s business strategy especially with regard to the activities of overseas branches and representative offices across the Globe. The future plan of the bank includes implementation of an effective Risk Management strategy both at the local and international fronts, recruiting Qatari nationals, enhancing the levels of staff performance by recruiting highly experienced and qualified human resources, improving banks service delivery channels, upgrading the level of Corporate Governance in the bank, diversifying the income sources and strengthening the financial position with a view to achieving the highest level of effective operational performance.

On the other hand, the bank has taken all measures to enhance its Corporate Governance system, whereby in addition to the policy manual on the BOD roles, responsibilities and terms of reference, the BOD Committees, the Executive Management Committees, Code of Ethics, we also approved the bank’s Corporate Governance Policy and Procedures. The BOD also enhanced the concepts of internal controls, transparency, disclosures, shareholders relations and stakeholders’ rights, etc. We also proposed in the EGM’s agenda, certain amendments/additions in the bank’s Articles of Association for your endorsement in order to align the AoA with the provisions of the Governance Code for Companies and Legal Entities issued by Qatar Financial Markets Authority. However, the bank’s report on Corporate Governance for the year 2017 is readily available to you in this meeting which reflected the Corporate Governance standards implemented by the bank.

Finally, on behalf of the Board of Directors and myself, I would like to extend my sincere thanks and gratitude to H.H. The Emir, Sheikh Tamim Bin Hamad Al-Thani, H.E. The Prime Minister, Sheikh Abdullah Bin Nasser Al-Thani, H.E. The Minister of Finance, Mr. Ali Sharif El-Emadi, H.E. The Minister of Economy & Commerce, Sheikh Ahmed Bin Jassim Bin Mohammad Al-Thani, and H.E. The QCB Governor, Sheikh Abdullah Bin Saoud Al-Thani, and to all officials of Qatar Central Bank, the Ministry of Economy and Commerce, Qatar Financial Markets Authority and Qatar Exchange for their continued cooperation and support.

Many thanks and appreciation to all the shareholders and customers for their confidence in the bank and to the Executive Management and all staff of the bank for their continuous cooperation and efforts which led to achieving impressive results for Doha Bank.

Fahad Bin Mohammad Bin Jabor Al-Thani,
Chairman