Dukhan Bank registers net profit of QR1.2 bn in 2021

Dukhan Bank’s robust financial performance during 2021 has resulted in its total assets increasing to QR110.7 billion, representing a significant growth of more than 28 percent as compared to last year driven by growth under the financing assets and investment securities.

They also announced that it recorded a net profit of QR1,193 million (QR1.2 billion) for 2021. Especially, financing assets continued to grow to QR75.2 billion in 2021 from QR58.5 billion in 2020, representing a remarkable growth of 29 percent. Further customers’ deposits balance raised to QR77.4 billion at end of 2021, which mainly supported the assets growth, increased considerably by 44 percent compared to QR53.9 billion for 2020.

Dukhan Bank’s strong asset-liability management capabilities enabled it to improve its financing to deposits ratio to under 98 percent from above 100 percent at end of 2020 reflecting the improvement in the bank’s overall liquidity position.

Reflecting on the strong performance, Dukhan Bank’s board of directors proposed a dividend distribution to shareholders of QR1.4 per share or 14 percent of the nominal share value up from QR1.0 per share or 10 percent of the nominal share value last year, subject to the approval of general assembly meeting of the shareholders.

Moreover, the bank has been affirmed the rating of ‘A’ by Fitch Ratings and “A2/Prime-1” with a stable outlook by the international rating agency Moody’s.