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Doha Bank profit up 84pc

During an interview with Seetharaman, Acting General Manager, Doha Bank, he revealed that they have had an excellent first half result, which has surpassed all previous performance. "There is a strong growth in all areas of business. Net loans and advances grew by 28 per cent to QR 6.84 billion and customer deposits have grown 10 per cent to QR 8 billion. Our investment portfolio has grown significantly to QR 2.26 billion, registering 37 per cent growth. Today our shareholder's equity stands strong at QR 2.04 billion, registering 52 per cent growth," he said.

Q How have you managed to maintain the performance level?

A There has been a number of reasons for this achievement. We have been consistently fine-tuning our asset mix to ensure best possible returns. We have consciously focused on strengthening our investment portfolio. We have diversified our revenue streams by introducing many new niche services example, Bancassurance and e-remittance. Simultaneously, we have been working very prudently on our liability mix to optimise the cost of funds.

All these have resulted in an impressive performance, as you can see from the figures. Our fee income has more than doubled from QR 34 million to QR 78 million. Our net operating income has jumped more than 50 per cent from QR 289 million to QR 442 million. Comparatively, our cost base has witnessed only a marginal increase of 4 per cent.

Q How do you rate your comparison against competition?

A The results are there for all to see. In terms of performance we clearly stand out as number one giving maximum return to shareholders. Our Annualised ROAE is 36 per cent and annualise ROAA is 5.84 per cent, which is the best in Qatar.

In terms of products and services, we are way ahead of competition in Qatar, with most of our products and services being trendsetter. On technology deployment, we have pioneered many initiatives. Example, we are the only Bank in Qatar offering SMS based funds transfer and utility payment facilities. We are the only bank with mobile Bank on wheel capable of offering instant banking facilities at any part of Qatar.

Q How do you see the road ahead?

A With favorable economic conditions and banks competing with each other to maximise customer value, it is an exciting time both for bankers and consumers. The days ahead are full of challenges. We have a clear road map to grow steadily both locally and internationally at strategic locations. We have identified niche segments, products and services where we will excel and become market leader.

We are continually reviewing our products and ensure that they always remain customers' first choice. The loan policy has been recently revised enhancing the eligibility criteria. We have also embarked upon aggressive promotion campaigns to sustain the edge of our products.