Doha Bank named Bank of the Year…

Doha Bank has been named ‘Bank of the Year 2013–Qatar’ by The Banker magazine, an affiliate publication ofThe Financial Times at an awards ceremony held in London recently.

The 14th Bank of the Year awards recognised leading banks from across the world. The awards honour institutions that have risen to the challenges posed by the tough global operating environments by demonstrating innovation, efficiency and vigilant risk management for the benefit of their customers and the economies in which they operate.

On behalf of Doha Bank, Sheikh Fahad bin Mohammad bin Jabor al-Thani, chairman of the Board of Directors and Group CEO Dr R Seetharaman along with senior delegation attended the award function.

Sheikh Fahad said: “Doha Bank is honoured to receive this recognition from The Banker which is an acclaimed global financial publication and we hope that this award will be a further inspiration for our senior management team and employees at every level to continue their excellent work in implementing the Bank’s multi-level strategy.”

Seetharaman said, “The year 2013 has been a landmark one for Doha Bank. We established new representative offices in strategic markets including Toronto, Sharjah, the special administrative region of Hong Kong in China, and Sydney, expanding our global reach. In December 2012, the Abu Dhabi representative office was upgraded to a full-fledged branch.”

He said the initiatives helped the bank in reinforcing its global network with presence in Qatar, UAE, Kuwait, Canada, the UK, Germany, Turkey, Singapore, China, Hong Kong, South Korea, Japan and Australia. “In addition, significant progress has been made in augmenting our alternative banking channels and retail offerings, while focusing on a tailored range of solutions for corporates and SMEs,” Seetharaman said.

He said, “Doha Bank has demonstrated consistent performance and the return on average equity was 18.4% as on 30 September 2013. In the same period for 9 months, the bank’s net operating income increased by 5% to QR 1.9bn. Total assets increased by more than QR9.7bn, a growth of 18%, from QR53.3bn as on 30 September 2012 to QR63.0bn as on 30 September 2013.” Gulf Times

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