Latest news with #DukhanBank
Zawya
21-04-2025
- Business
- Zawya
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. ( The Peninsula Newspaper
Zawya
13-04-2025
- Business
- Zawya
Dukhan Bank launches new house finance campaign with competitive profit rate and exclusive benefits
Doha, Qatar – Dukhan Bank, Qatar's leading provider of Sharia-compliant financial solutions, has launched a new House Finance campaign offering customers exclusive benefits, including a competitive profit rate as low as 5% per annum, a 12-month grace period, and a 50% discount on administration fees at select locations. The limited-time campaign, running from 10 April to 10 July 2025, reflects Dukhan Bank's ongoing commitment to providing ethical, customer-focused financial solutions aligned with Sharia principles. Customers can access home finance starting from a minimum amount of QR 1,000,000, with a repayment tenure of up to 10 years. Commenting on the campaign, Mr. Abdulaziz Al-Naema, Head of Retail Banking at Dukhan Bank, said: ' At Dukhan Bank, we are committed to offering Sharia-compliant solutions that meet the evolving needs of our customers. Our latest House Finance campaign is tailored to support aspiring homeowners in Qatar by providing highly competitive rates and exclusive benefits, making the journey to owning a home more accessible and rewarding.' Through this offer, Dukhan Bank continues to reinforce its position as a customer-centric institution focused on making essential financial solutions more convenient and appealing. The campaign is designed to empower customers with flexible repayment options while benefiting from ethical finance solutions rooted in Islamic values. Customers interested in the campaign can visit any Dukhan Bank branch, call 800 8555, or apply directly via the bank's website at About Dukhan Bank: Dukhan Bank was incorporated as a Qatari Shareholding Company in the State of Qatar under Commercial Registration No. 38012 dated 28 January 2008. Dukhan Bank commenced its activities on 1 February 2009 under Qatar Central Bank License No. RM/19/2007. The Bank and its subsidiaries are primarily engaged in financing, investing and advisory activities in accordance with Islamic Shari'a rules as determined by the Shari'a Committee of the Bank and provisions of its Memorandum and Articles of Association. Investment activities are carried out for proprietary purpose and on behalf of customers. The Bank operates through its head office situated on Grand Hamad Street, Doha and its 9 branches in the State of Qatar. The Bank rebranded itself from Barwa Bank to Dukhan Bank during October 2020 post obtaining necessary approvals as per the State of Qatar applicable laws and regulations. The Bank is 24.6% owned by the General Retirement and Social Insurance Authority, 11.7% by the Military Pension Fund (Qatar), and 7.0% by Qatar Holding, strategic and direct investment arm of Qatar Investment Authority being the sovereign wealth fund of the State of Qatar; and remaining shares are owned by other shareholders. On 22 January 2023, pursuant to Resolution No. 2 of 2023 by the Minister of Industry and Commerce, the Bank was converted from a Qatari Private Shareholding Company to a Qatari Public Shareholding Company. On 1 February 2023, Qatar Financial Markets Authority approved the listing of the Bank's shares on the Qatar Stock Exchange. Following the approval, trading of the Bank's shares on Qatar Stock Exchange Main Index commenced on 21st February 2023. The Bank was included under the MSCI emerging market index as of the close of 31st May 2023. On 15th September 2023, the Bank was included in the FTSE's mid-cap index. QSE included the Bank to QE Index and QE Al-Rayan Islamic index effective from 1st October 2023.
Zawya
12-02-2025
- Business
- Zawya
The First Investor Q.S.C.C. and Wasata Financial Securities announce strategic marketing partnership to enhance client offerings
Doha, Qatar – The First Investor ('TFI'), a leading financial institution specialising in Sharia-compliant investment banking and asset management solutions, and a wholly owned subsidiary of Dukhan Bank, has announced a strategic marketing partnership with Wasata Financial Securities ('Wasata'), a prominent investment services provider. This collaboration aims to expand Wasata's range of investments offerings by introducing sukuk products to its clients. By leveraging TFI's extensive local and global market expertise and advanced sukuk execution capabilities, this strategic collaboration creates a robust platform for delivering innovative, low-risk, and Sharia-compliant investment solutions. TFI, a recognised leader in the capital markets and particularly in the sukuk space, manages a highly regarded sukuk fund with assets exceeding QAR 450 million, alongside its comprehensive sukuk execution services. This partnership enables Wasata to enhance its suite of financial solutions with, providing clients with access to diversified and secure investment opportunities Mr. Haithem Al Katerji, CEO of TFI, stated: 'We are delighted to collaborate with Wasata to provide access to investment opportunities in the global capital markets space, particularly in the Sukuk market. This partnership underscores our commitment to delivering tailored financial solutions, and together we are strengthening the local investment and savings landscape.' Mr. Mohammed Abu Ghoush, CEO of Wasata, added: 'This partnership significantly enhances our ability to provide clients with a broader range of sukuk investment opportunities. It is a strategic win for both organizations and, most importantly, for our clients.' Both TFI and Wasata are dedicated to fostering long-term client relationships and driving mutual growth by delivering seamless, Sharia-compliant investment solutions -Ends- About Dukhan Bank: Dukhan Bank was incorporated as a Qatari Shareholding Company in the State of Qatar under Commercial Registration No. 38012 dated 28 January 2008. Dukhan Bank commenced its activities on 1 February 2009 under Qatar Central Bank License No. RM/19/2007. The Bank and its subsidiaries are primarily engaged in financing, investing and advisory activities in accordance with Islamic Shari'a rules as determined by the Shari'a Committee of the Bank and provisions of its Memorandum and Articles of Association. Investment activities are carried out for proprietary purposes and on behalf of customers. The Bank operates through its head office situated on Grand Hamad Street, Doha and its 9 branches in the State of Qatar. The Bank rebranded itself from Barwa Bank to Dukhan Bank during October 2020 post obtaining necessary approvals as per the State of Qatar applicable laws and regulations. The Bank is 24.6% owned by the General Retirement and Social Insurance Authority, 11.7% by the Military Pension Fund (Qatar), and 7.0% by Qatar Holding, strategic and direct investment arm of Qatar Investment Authority being the sovereign wealth fund of the State of Qatar; and remaining shares are owned by other shareholders. On 22 January 2023, pursuant to Resolution No. 2 of 2023 by the Minister of Industry and Commerce, the Bank was converted from a Qatari Private Shareholding Company to a Qatari Public Shareholding Company. On 1 February 2023, Qatar Financial Markets Authority approved the listing of the Bank's shares on the Qatar Stock Exchange. Following the approval, trading of the Bank's shares on Qatar Stock Exchange Main Index commenced on 21st February 2023. The Bank was included under the MSCI emerging market index as of the close of 31st May 2023. On 15th September 2023, the Bank was included in the FTSE's mid-cap index. QSE included the Bank to QE Index and QE Al-Rayan Islamic index effective from 1st October 2023. About The First Investor (TFI): The First Investor (TFI) is a subsidiary of Dukhan Bank Q.P.S.C. and is licensed and regulated by the Qatar Central Bank as an Investment Company focusing on asset management and financial advisory. Headquartered in the State of Qatar, TFI is a pioneering company in the field of Sharia-compliant financial services, with a strong focus on asset management and financial advisory. TFI strives for excellence by delivering comprehensive financial solutions and strategic financial guidance. TFI focusses on high-growth sectors with long-term potential through a diverse and innovative portfolios of investment products and services in the region. TFI has grown its asset management business over the years and currently has over QAR 2.6 billion in assets under management, invested across various asset classes. In addition, TFI's financial advisory team has provided guidance to numerous Qatari companies, with the value of advisory transactions exceeding QAR 11 billion. TFI is committed to fostering trust-based, long-term relationships. Its client base is vast and includes government entities, government-related organizations, corporations, family offices, and high-net-worth individuals. TFI's adoption of transparency, reliability, and innovation, complemented by a client-centric approach, distinguishes it as a leading investment solution provider in the present day volatile global financial landscape. About Wasata Financial Securities: WASATA Financial Securities (formerly Islamic Financial Securities) is a wholly owned subsidiary of INMA Holding Company, a Qatar Stock Exchange (QSE) listed public joint stock holding company. Established in 2003, WASATA Financial Securities provides brokerage services to QSE investors, at the beginning of 2020, the company earned a 'Comprehensive Broker' classification as per the approval of Qatar Financial Markets Authority (QFMA) to offer the following services: Execution of securities' trade orders for a third party Own securities' trading Advisory on securities Liquidity provider Market Maker Securities marketing and promotion. During this time, Wasata has generated excellent proven results and performance in its licensed activities thus establishing itself as one of the major contributors to stock market activities in Qatar. WASATA continues to have an increasing presence and participation within listed stocks trading at QSE, whether its brokerage services, Trading, Market Making and Liquidity Provision.
