Doha: Dukhan Bank announced its financial results for the six-month period ended 30 June 2024, reporting a net profit of QR 784 million, representing a 3 percent growth compared to the last year.
The bank reported a net profit of QR 784 million for the first six months of 2024, reflecting a 3 percent year-on-year growth. This growth in bottom-line profitability was underpinned by a 18 percent increase in net income from financing activities, and a 34 percent rise in net income from investing activities, resulting in an overall rise in total income for the Group which grew by 15 percent.
In a statement, the Board of Directors has declared the Bank’s first interim dividends of 8 percent equivalent to QR 0.08 per share. The proposed dividend is subject to regulatory approvals. This dividend will be payable to the shareholders as at the close of trading on 24th July 2024.
The bank maintained its efforts to enhance operational efficiency and build on revenue sources, leading to a cost to income ratio of 31.6 pe
rcent.
The bank’s total assets stood at QR 114.2 billion, primarily comprising of financing assets of QR 82.7 billion (72 percent of total assets) and investment securities of QR 16.7 billion (15 percent of total assets).
The capital adequacy ratio (CAR) was maintained at 17.8 percent in accordance with Basel III requirements, adequately above the minimum supervisory ratio specified by the Qatar Central Bank.
Source: Qatar News Agency