By Eslam Salem
Doha – Mubasher: Doha Bank is targeting a 30% rise in its revenues from overseas branches in the coming three years, CEO Abdulrahman Al Thani said on Monday.
During the bank's ordinary and extraordinary general meetings held today, the top executive added that there are challenges this year due to the difficult economic and political conditions seen in the region.
Doha Bank is also aiming to maintain solid performance and profitability in the coming years through overseas expansion, according to the CEO.
The bank's bad or distressed loans are covered by more than 100%, said the CEO, adding that the bank will carry out a capital increase that a rights issue to be announced soon.
Doha Bank runs branches in several countries including Kuwait, India, Abu Dhabi and Canada.
The bank's ordinary general meeting endorsed earlier today the board's proposal for distributing 30% cash dividends at QAR 3 per share.
FY15 net profit rose 1.1% year-on-year to QAR 1.374 billion, from QAR 1.359 billion a year earlier.
Translated by Sayed Abdel Rahman
