Doha Bank QSC, Qatar’s third-biggest bank by assets, said 2010 full-year profit rose 8.3 percent and the bank’s board recommended raising share capital by up to 15 percent through the sale of global depositary receipts.
Net income advanced to 1.05 billion riyals ($288 million), or 5.56 riyals a share, from 973.6 million riyals or 5.38 riyals in the previous year, the bank said in an e-mail today. Net income was expected to rise to 1.08 billion riyals, according to the average estimate of nine analysts compiled by Bloomberg. The bank recommended a dividend of 5 riyals a share.
Doha Bank plans to sell $500 million of senior bonds in the first quarter, it said on Dec. 26.
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