Tribune News Network
Doha
Dukhan Bank on Monday announced that the bank achieved net profit of QR784 million in the first six months of 2024, representing a 3 percent growth compared to the same period last year.
The growth in bottom-line profitability was underpinned by 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.
The Group maintained its efforts to enhance operational efficiency and build on revenue sources, leading to a cost to income ratio of 31.6 percent.
The Group’s total assets stood at QR114.2 billion, primarily comprising of financing assets of QR82.7 billion, 72 percent of total assets, and investment securities of QR16.7 billion, 15 percent of total assets.
The balance sheet is mainly funded by customer deposits, which were QR84.6 billion at end of the financial period. The Group’s liquidity remained robust, with regulatory loans-to-deposits ratio of 96.1 percent. Total shareholders’ equity amounted to QR12.9 billion. The capital adequacy ratio (CAR) was maintained at 17.8 percent in accordance with Basel III requirements.
The board of directors has declared the bank’s first interim dividends of 8 percent equivalent to QR0.08 per share. The proposed dividend is subject to regulatory approvals.