Doha Bank reports Q1 net profit of QR307mn

Doha Bank reports Q1 net profit of QR307mn:

Doha Bank has reported net profit of QR307mn in the first three months (Q1) of this year.

“The bank has made significant progress in improving the cost management and efficient utilisation of resources where the operating cost for the period decreased by 10.8% as compared to same period last year, thus reducing the cost to income ratio to 35.7% from 37.3% showing bank’s productive operational performance,” said Doha Bank chairman Sheikh Fahad bin Mohamed bin Jabor al-Thani.

The bank’s total assets expanded 3% year-on-year to QR96.3bn at the end of March 31, 2019 with net loans and advances at QR58.7bn; while customer deposits stood at QR54.5bn.