Doha Bank Posts 18% Rise in 2011 Profit

Doha ,January 18 (QNA) - Doha Bank, Qatar s third-largest bank posted an 18% increase in 2011 profit to QR.1.24 billion , about, $340 million, against QR. 1.05 billion in 2010 , a growth percentage of 17.7 %. The Doha Bank announced in a statement issued here on Wednesday that the board approved in its meeting the draft audited financial statements for the year 2011, and recommended the General Assembly to approve the cash dividend to shareholders by 45% of the paid up capital ie by 4.5 riyals per share, noting that the Council will consider during this year's issue of increasing the bank's capital. The statement stated that the total assets of Doha Bank, increased from 47.2 billion riyals in 2010 to 52.4 billion riyals in 2011, a growth rate equal to 11 % and total loans and advances increased from 26.5 billion riyals in 2010 to 30.7 billion riyals in 2011, a growth rate equivalent to 15.7%. The statement also said that the deposits had grown by 2.8%, with total deposits rise from 30.8 billion riyals in 2010 to 31.7 billion riyals in 2011, and total shareholders' equity amounted at year-end to $ 7.1 billion riyals, an increase of 17.3% compared to the previous year. The statement pointed out that the bank has achieved a growth income operation rate equal to 11.4% with total operating revenues of 2.1 billion riyals in 2010 to 2.3 billion riyals in 2011. (QNA)