Doha Bank releases 2021 profits

Doha Bank released Thursday its profit figures for last year. 

The bank achieved 704 million Qatari riyals ($193.4 million) in profits in 2021. Doha Bank’s board of directors also voted to pay cash dividends to shareholders at a rate of 0.075 Qatari riyals ($0.02) per share, the bank said in a press release. 

Doha Bank is one of the biggest banks in Qatar. The one-time accountant Raghavan Seetharaman, who is originally from India, has been credited with turning the bank into a respected global financial institution since becoming CEO in 2002. The bank has branches around the world, including in the United Arab Emirates and Kuwait. 

Doha Bank’s profits in 2020 were almost 703 million Qatari riyals ($193.1 million). 

On the other hand, the value of Doha Bank’s assets went down from 2020 to 2021. Last year, the bank’s assets amounted to 101.1 billion Qatari riyals ($27.8 billion). In 2020, the assets amounted to 103.5 billion Qatari riyals (28.3 billion). The assets include investments, customers deposits and loans. The bank’s net loans and advances as well as its customer deposits fell in 2021, though its investment portfolio increased in value, according to the bank’s figures. 

Doha Bank has some competitors in Qatar, including Qatar International Islamic Bank and Qatar National Bank.