Qatar: Dukhan Bank reports net profit of $120mln for Q1 2025
Doha, Qatar: Dukhan Bank announced its financial results for the three-month period ended 31 March 2025,and reported a net profit of QR437m, representing a 3% growth compared to the same period of last year.
The Group delivered a solid financial performance during the first quarter of 2025, reflecting the continued successful execution of its strategic initiatives and building on the strong momentum of previous years.
Bottom-line profitability grew by 3%, supported by a 5% increase in net banking income. The uplift in net banking income was driven by the Group's ongoing focus on revenue diversification and the strengthening of non-profit income streams. In addition, despite prevailing external headwinds, prudent management of funding costs contributed positively to the Group net banking income.
On the other hand, operational efficiency remained a strategic priority, with continued optimization efforts delivering added value to overall profitability. These results underscore the Group's resilience and ability to a sustained growth in a dynamic operating environment.
The Group's total assets remained at historic levels, standing at QR117.7bn at the end of March 2025. The asset base continues to be primarily composed of financing assets, which reached QR86.6bn and represent 74% of total assets, alongside investment securities amounting to QR19.6bn (17% of total assets).
During the period, the Bank maintained its financing portfolio, bringing the total to QR86.6bn. This aligns well with the Bank's strategic objective of steadily increasing market share, while maintaining disciplined and efficient resource deployment. The focus remains on achieving a well-diversified portfolio with an emphasis on asset quality over sheer volume, thereby effectively managing risk exposure.
Reflecting the Group's strong asset quality and disciplined credit risk management, the non-performing loan (NPL) ratio improved to 4.5% as of March 2025, down from 5.1% in March 2024 and 4.6% in December 2024. In parallel, the Stage 3 coverage ratio increased to 74.5% (March 2024: 71.5% and December 2024: 73.1%), reaffirming the Group's prudent and proactive approach to managing credit risk.
Total equity reached QR14.8bn, while the Group sustained a strong Capital Adequacy Ratio (CAR) of 17.9%, significantly exceeding the minimum regulatory requirements of the Qatar Central Bank and the Basel III framework, providing solid foundations to support future growth.
© Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
The Peninsula Newspaper
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Tourism Breaking News
3 hours ago
- Tourism Breaking News
Oman hospitality sector welcomed 820,365 guests in 2024 : OMRAN
Post Views: 47 The Oman Tourism Development Company (OMRAN Group) announced that the hospitality sector welcomed 820,365 guests across its hotel portfolio in 2024 — a 6% increase compared to the previous year. The portfolio achieved an average occupancy rate of 45%, marking a 2.6% increase year-on-year. A major milestone was achieved with the official opening of JW Marriott Muscat, further enriching the luxury hospitality landscape in the Sultanate of Oman. As part of its efforts to position Oman as a premier luxury tourism destination on the global map and to attract the world's leading hospitality brands, OMRAN Group announced several strategic projects, most notably the Middle East's first Club Med Resort that will be developed in Musandam, and the signing of a strategic partnership with Santani Wellness Resorts to introduce wellness tourism in Al Dakhiliyah Governorate. The Oman Tourism Development Company (OMRAN Group) has announced strong financial and operational results, underscoring the Group's sustained efforts and corporate excellence in advancing tourism development and supporting sustainable economic growth in the Sultanate of Oman, in close collaboration with key stakeholders. In 2024, the Group recorded a net profit of OMR 25.2 million and total revenues exceeding OMR 58.3 million, reflecting operational efficiency and the high standards of excellence embraced across its business operations. These achievements were presented during the Group's recent Board of Directors meeting, where the Board reaffirmed its continued commitment to reinforcing the Group's role in advancing economic diversification and amplifying its impact as a key catalyst for tourism development and investment in the Sultanate. Demonstrating its ability to attract high-quality investments, OMRAN Group secured over OMR 156 million in Foreign Direct Investment (FDI) during 2024. This achievement aligns with Oman Vision 2040 and the national efforts to boost FDI inflows and enhance the contribution of various economic sectors to the GDP. Reinforcing its commitment to sustainability and local value creation, the Group achieved a 40% In-Country Value Index in 2024, with total spending exceeding OMR 19 million in support of SMEs, which accounted for 34.7% of overall procurement spending. Furthermore, the Group created 370 new job opportunities for local talents, achieving an Omanisation rate of 94% within Oman Tourism Development Company SAOC and 53% across the Group, highlighting its dedication to empowering national talent and supporting the local economy. In line with its vision to enhance corporate governance practices, OMRAN Group launched its Environmental, Social, and Governance (ESG) Framework during the year, reinforcing its commitment to global sustainability standards, transparency, and excellence across all its operations and projects. The positive results achieved by OMRAN Group in 2024 reaffirm its leading role as a catalyst for tourism development in the Sultanate of Oman. Through pioneering projects, strategic partnerships, and innovative initiatives, the Group continues to strengthen its position and contribute to Oman's journey towards a diversified and sustainable economy.
Hi Dubai
2 days ago
- Hi Dubai
Mashreq Lists USD 500 Million Sukuk on Nasdaq Dubai Amid Strong Global Demand
Mashreq has marked a key milestone in its Islamic finance journey with the listing of a USD 500 million Sukuk on Nasdaq Dubai, following strong investor demand and signaling renewed confidence in the region's capital markets. The Sukuk, due in 2030, was issued by Mashreq Al Islami Sukuk Company Ltd. under the bank's USD 2.5 billion Trust Certificate Issuance Programme. Attracting an oversubscribed orderbook of USD 2.9 billion, the issuance saw broad participation from over 90 global investors across the Middle East, Europe, and Asia. The listing ceremony was attended by senior Mashreq executives, including Group CEO Ahmed Abdelaal, who rang the market-opening bell alongside Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market. Abdelaal described the debut listing as a 'new chapter' in Mashreq's capital markets strategy, highlighting its disciplined funding approach and commitment to sustainable, Sharia-compliant financial solutions. Abdul Aziz Al Ghurair, Chairman of Mashreq, called the listing a demonstration of the bank's role in advancing global Islamic finance. Hamed Ali noted that the move underscores Nasdaq Dubai's position as a global platform linking regional issuers with international investors and supporting diversified financing needs. The successful Sukuk launch is also significant as it marked the first public issuance from the CEEMEA region since the announcement of U.S. tariffs in April 2025, which had stirred global market volatility. Its strong reception helped pave the way for additional regional issuances. With this listing, total Sukuk listings on Nasdaq Dubai have reached USD 97.2 billion, while overall debt listings now stand at over USD 140 billion — reinforcing Dubai's growing stature as a leading hub for Islamic and international capital markets. News Source: Dubai Media Office
Web Release
2 days ago
- Web Release
The G Management Group Expands Its Wellness Presence with Skin Society's Third Branch Opening
Skin Society, the go-to beauty destination established by the G Management Group, opens its doors today at ABC Dbayeh, marking the launch of its third branch in Lebanon. Following the success of its flagship store in Hazmieh and its Beauty Booth at ABC Achrafieh, this new location brings Skin Society's full experience to one of the most vibrant destinations, reinforcing the brand's commitment to helping more people feel #InGoodSkin. The G Management Group began its journey with Pharmacie Le Gabriel, founded in 1997 in the heart of Beirut and recognized as one of Lebanon's most trusted pharmacies. In 2008, the Group introduced G SPA, a pioneering 2,000m² destination for wellness, beauty and medispa care recognized for 10 consecutive years with Quality French label Spa-A since 2012. Expanding its reach, the Group launched Health Essentials SAL in 2011, which distributes premium natural health and cosmetic brands across pharmacies and spas in the country. In 2019, the G Management Group introduced Skin Society in Hazmieh. A concept that blends health, cosmetics and wellness into one beauty destination, offering an array of not only products, but also professional services to further emphasize the idea of feeling 'in good skin'. Located within the Hazmieh flagship, Skin Time by G SPA offers nail services, targeted facials, body treatments, and massages. On the first floor, Skin Society Studio provides a variety of fitness classes from Reformer and Mat Pilates, to Barre and Aerial Yoga, empowering clients to embrace movement and feel truly #InGoodSkin. The Group's journey into medical beauty began in 2008, working with renowned dermatologists to offer expert skin services. With a solid foundation in this field, the Group evolved its services through a rebranding in 2022, adopting the name Skin Society The Clinic. The latter offers evidence-based, regenerative and aesthetic medicine treatments provided by a team of expert doctors and licensed medical professionals. In 2023, Skin Society established its Beauty Booth located on the ground floor of the ABC Achrafieh Department Store, featuring exclusive brands, trusted dermocosmetics and a nail bar offering quick touch-ups and treatments. Today, Skin Society takes its next step forward with the opening of its third branch at ABC Dbayeh. The new store offers a complete beauty experience, featuring a wide range of international, local and exclusive brands from skincare, makeup, fragrances, bath & body, baby & mom essentials, and more. It also includes a dedicated area for Skin Time by G SPA, where customers can indulge in facials, body treatments, foot and hand care, and other pampering services. The Group now counts a team of over 250 employees and highly trained professionals, all working together to deliver exceptional service and personalized care to meet each client's needs. Commenting on the launch, Mrs. Roula Ghanem, CEO of the G Management Group, said: 'Skin Society has always been about more than beauty, it's about feeling confident and comfortable in your own skin. With every new location, we come closer to our vision of making skincare and self-care experiences more accessible to our community. We're proud to open our third branch at ABC Dbayeh, allowing us to reach even more individuals, especially in the Metn, Keserwan, and North areas, and continue our mission to help everyone feel like their best self.' The launch event was attended by media figures, loyal clients, and VIP celebrities who came together to celebrate this exciting milestone in Skin Society's journey. With its third branch now open, Skin Society continues to raise the bar for integrated beauty and wellness experiences in Lebanon. For more information, please visit or contact [email protected]
