#Qatar’s Doha Bank Q2 net profit falls 30% to $50mln

Qatar’s Doha Bank Q2 net profit falls 30% to $50mln

Qatar's Doha Bank reported a net profit of 183.4 million riyals ($50.37 million) in the second quarter of 2023, down 30%, compared to QAR 263.5 million in the same period last year.

The bank’s profit for the first half dropped 40% to QAR 392 million from QAR 665 million in the same period last year.

Net interest income was QAR 537 million, down from QAR 596 million a year ago, the bank said in a filing published on the Qatar Stock Exchange on Thursday.

Total assets reached QAR 93.0 billion, as net loans and advances stood at QR 55.8 billion as of 30 June 2023.

Customer deposits stood at QAR 44.1 billion as of 30 June 2023, while investment portfolio reached QAR 25.4 billion.