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Dubai, January 25, 2016: His Excellency Sheikh Fahad Bin Mohammad Bin Jabor Al-Thani, Chairman of the Board of Directors of Doha Bank, announced that the Board of Directors (BOD) in its meeting held on January 24, 2016 has approved the draft of the Bank’s audited financial statements for the year ended 2015. His Excellency added that the net profit of the Bank for the year 2015 is QR 1,374 million as compared with QR 1,359 million in the year 2014 representing a growth rate of 1%. At the same meeting, the BOD has decided to present a recommendation to the General Assembly to approve the distribution of cash dividends of QR (3) per share to the shareholders. Following are the board resolutions: - Approved the draft of the audited financial statements of the year 2015.
- To submit a recommendation to the Ordinary General Assembly to distribute cash dividends to the shareholders for QR (3) per share in addition to appropriating QR. 220 m from profit available for distribution return on issued capital instruments qualifying as additional Tier 1 Capital.
- To call the Ordinary and Extraordinary General Assembly of the Shareholders for a meeting on the 7th of March 2016, and in the event the quorum is not met, a second meeting will be held on the 13th of March 2016.
- Approved the Agenda of the Ordinary and the Extraordinary General Assembly Meeting of the shareholders.
Furthermore, His Excellency said that the Bank has achieved noticeable growth rates in all financial indicators. The total assets rose by QR. 7.8 billion from QR 75.5 billion in 2014 to QR 83.3 billion in 2015 i.e. a growth rate of 10.3%. Loans & advances rose from QR 48.5 billion in 2014 to QR 55.6 billion in 2015 i.e. a growth rate of 15%. The customer’s deposits grew by 15%, where the total deposits increased from QR 45.9 billion in 2014 to QR 52.7 billion in 2015. The total shareholders’ equity reached to QR 13.2 billion by year end by an increase of 17% compared to last year. H.E. Sheikh Fahad also declared that as of December 31, 2015 the earnings per share was QR 4.85 and the return on average shareholders’ equity was 16.1% and the return on average assets was 1.73%. H.E. Sheikh Fahad added that the audited financial statements, declared net profit and proposed cash dividends percentage are subject to the approval of the concerned regulatory authorities and the General Assembly of the Shareholders. He also said that the Board of Directors and the Executive Management will work together to achieve greater results and achieve the objectives that are outlined in the Bank’s strategy for the coming three years.
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