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Best bank: Doha Bank |
With a return on assets of 3.6% and a return on equity of 32.6%, Doha Bank had one of the best performance ratios in the region in 2007. The bank’s development as one of the Middle East’s finest is a result of continuous improvement over a number of years. For example, it has posted a four-fold growth in shareholder equity and a seven-fold increase in annual net profit over the past five years.
In 2007, shareholder equity grew by 30% and net profits increased by 25%. Total deposits rose by 32%. Total loans and advances crossed QR19.2 billion ($5.3 billion), achieving year-on-year growth of 32%.
The bank follows a six-pronged growth strategy, including prudent asset liability management, diversification of revenue streams and international expansion. Doha Bank became the first bank from Qatar to have a branch in Dubai and is poised to open a fully fledged branch in Kuwait.