Doha Bank recommends distribution of 45% of paid-up capital as cash dividend to shareholders for year 2012

His Excellency Sheikh Fahad Bin Mohammad Bin Jabor Al-Thani, Chairman of Doha Bank, said that the Bank has approved the draft for the 2012 financial statements during the Board of Directors (BOD) meeting held on January 20, 2013. His Excellency added that the net profit of the Bank for the year 2012 is QR1.305bn as compared with QR1.241bn in the year 2011 representing a growth rate of 5.1%. At the same meeting, the BOD has decided to present a recommendation to the General Assembly to approve the distribution of cash dividends of 45% of the paid-up capital i.e. QR4.5 per share to the shareholders.

Furthermore, His Excellency said that the Bank has achieved noticeable growth rates in all financial indicators. The total assets rose from QR52.7bn in 2011 to QR55.2bn in 2012 i.e. a growth rate of 4.7%. Loans and advances rose from QR31.0bn in 2011 to QR33.8bn in 2012 i.e. a growth rate of 8.9%. The customer's deposits grew by 8.5%, where the total deposits increased from QR31.7bn in 2011 to QR34.4bn in 2012. The total shareholders equity reached to QR7.6bn by year end i.e. an increase of 6.6% as compared to last year.

H.E. Sheikh Abdul Rahman Bin Mohammad Bin Jabor Al-Thani, Managing Director of Doha Bank, declared that the bank has achieved noticeable growth rate in the total operating Income of 3.6%, where the total operating income rose from QR2.3bn in 2011 to QR2.4bn in 2012. The earnings per share was QR6.3. The return on adjusted average shareholders' equity and the return on average assets were 20.6% and 2.42% respectively.

His Excellency added that the audited financial statements, declared net profit and cash dividends percentage are subject to the approval of both the supervisory authorities and the Shareholders General Assembly, He also said that the Board of Directors and the Executive Management will work together to achieve greater results and achieve the objectives that are outlined in the Bank's strategy for the coming three years.

Doha Bank's successful results are largely attributable to the Bank's Strategy to innovate, diversify and capitalize on market synergies, as it continues to increase shareholder value. Dr R Seetharaman, Group Chief Executive officer, highlighted the key innovations, achievements and initiatives by Doha Bank in 2012.

On the Liability Management front, Dr. R Seetharaman said, "Doha Bank has successfully completed the Senior bond issue of $500m under Doha Bank's Euro Medium Term Note Programme (EMTN) of $2bn. The issue was oversubscribed nearly 8 times which speaks volumes on the faith of global investors in the Bank's strong performance in recent years, its strategy, franchise and leading market position along with the impressive economic growth in Qatar. Also, the Bank introduced the AL JANA series 5 in multiple regional and international currencies."

On the launch of Doha Bank's innovative products, Dr. R.Seetharaman said, "DOHA Bank has launched an extensive suite of Bullion Products including the "Gold Investment Loan" product, 'Go for Gold Campaign' (wherein customers can buy gold bars), 'Loan against Pre-Owned Gold'. Doha Bank has also established a strategic alliance with PAMP, a world leading Bullion brand. Earlier, Doha Bank in partnership with Regency Travels and Tours launched a prepaid 'Traveller' card, which can be denominated in US-Dollar, Euro and Pound Sterling. Doha Bank also revitalized the long standing special 'Welcome Package', an assortment of instant financial services products exclusively designed for first timers in Doha. With Vodafone being its valued partner, Doha Bank has made Vodafone 'Red-recharge vouchers' available for purchase, using the Doha Bank mobile banking application, which was first of its kind in Qatar. Doha Bank also introduced the Small and Medium Enterprises product line in its Kuwait branch, in addition to the offerings in Qatar and UAE markets."

Highlighting Doha Bank's most rewarding banking experience, Dr. R. Seetharaman said, "Doha Bank has launched "Al Dana-2012" with more rewards to be won from total prize money of 12 Million. Doha Bank rolled out the Summer Campaign on credit cards, with the "5-6-7-8" summer promotion which excited the customers for the third year in a row. The unique shopping credit card with LULU hypermarkets continued its major success with its continuous 5% savings throughout the year with additional attractive special promotions. The Bank also introduced 0% installment schemes with renowned brands such as 51East, Samsung, Joyalukkas and Lulu. The Bank also launched "Transfer Your Loan at 0% Interest Rate" scheme. With the latest car models for the year 2012 revealed and the exciting car exhibitions happening in Qatar, Doha Bank also launched the most amazing Car Loan offer of 0% Interest Rate on all Car Brands in Qatar. Doha Bank re-ignited the Property Market with Qatar's Most Competitive Retail Mortgage Loan Offer at 3.99%. In another strategic arrangement, Doha Bank entered into a bilateral agreement with the Q-Post, to support the speedy and safe delivery of the merchandise to customers on purchases through Doha Bank's e-commerce portal, The Doha-Sooq."

On the expansion of the Bank's network locally and internationally, he mentioned, "To augment our local network the Bank inaugurated new branches in Al Wakrah and Museum and further the Bank unveiled the New Branch identity at the Gate Branch, and inaugurated two more e-Branches during the year. Doha Bank Assurance Company LLC, a wholly owned insurance subsidiary of Doha Bank opened its first retail Insurance Branch at C Ring Road. On the international front, Doha Bank upgraded its Abu Dhabi Representative Office to a full scale branch and also opened a new representative office in Sydney, Australia. Doha Bank has made arrangements for banking and remittance services for expats through arrangements with Commercial bank of Ceylon and Bank of Philippines Island."

Dr. R. Seetharaman said, "Doha Bank has placed exclusive Relationship Managers for its customers at International Relations Centre in Grand Hamad Avenue to take care of their banking and remittance needs. A strategic cooperation agreement has been entered into with China UnionPay to offer greater convenience to China UnionPay Cardholders on Doha Bank ATMs and POS terminals. Doha Bank entered into an agreement with India bulls Group for offering of Mortgage Loans to NRI customers for acquiring properties in India. Doha Bank also signed an MoU with Korean EXIM Bank."

On the Corporate Social Responsibility front, he added, "Doha Bank participated in the COP18 UN Climate Change Conference hosted by Qatar. The highlight was on the three major projects of the bank on the ECO-Schools programme, Corporate Carbon Footprint programme and Sustainability Reporting, all of which are being championed by Doha Bank. The Bank also held the annual Al Dana Green Run to commemorate Qatar's hosting of the COP 18 event. Doha Bank and iLoveQatar.net concluded the first of its kind pact to support each other in engaging with the local communities residing in Qatar. In another innovative initiative, Doha Bank has released a new application for Ramadan dedicated to all the people who want to know the exact prayer time throughout the holy month, engage in the QUR'AN Al Kareem Recitals and in calculating the Zakat. Doha Bank and Qatar Charity announced the institution of the 'Dirhams Program' which allows all Doha Bank customers to sign an arrangement to transfer automatically the excess dirhams in their account to carry out humanitarian projects. During the year, Doha Bank continued its efforts of knowledge sharing by conducting sessions in Qatar, UAE and Kuwait. Doha Bank also actively participated in the Annual IMF meeting held in Japan."

While commenting on the achievements of Doha Bank in last year, Dr R.Seetharaman said, "Doha Bank was adjudged 'Best Bank in Qatar 2011' for the second consecutive year by EMEA Finance Magazine. Doha Bank also won 'Best Bank Qatar 2012' and 'Most Innovative Bank In Middle East 2012' from Global Banking and Finance Review. The Bank had also won this year's prestigious 'Golden Peacock Global Award for Corporate Social Responsibility' appreciating our efforts towards setting the example as a responsible corporate. Some of the other prestigious awards won by Doha Bank during the year include 'The Bizz 2012 - World Business leader' from World Confederation of Businesses, '2011 Euro Straight through Processing Excellence Award' by Deustche Bank, 'Golden Europe Award for Quality and Commercial Prestige', 'Best Corporate CSR program by a Bank' by Arab Organization for Social Responsibility."

Recognizing this performance, International rating agencies, Moody's, Standard & Poors, Capital Intelligence and Fitch Ratings, have assigned a stable outlook for Doha Bank owing to its consistently strong financial fundamentals, asset quality, and robust liquidity. Doha Bank has been applauded by renowned financial sector analysts for its pioneering and leadership role in taking Financial Services experience in Middle Eastern region to newer heights.