Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Qatar- Barwa Bank net profit up 46pc  Join our daily free Newsletter

MENAFN - The Peninsula - 30/03/2014
No. of Ratings : 0
Add to Mixx!


(MENAFN - The Peninsula) Barwa Bank Group, Qatar's Shari'ah-compliant banking service provider, has recorded a strong growth in both balance sheet and profitability for the full-year 2013, with net profit growing by 46 percent at QR503.9m compared with QR345.2m in 2012.



The group's total assets increased by 33 percent to reach QR33.6bn, a reflection of 26 percent growth in the financing portfolio from QR15.3bn to QR19.3bn, with customer deposits rising from QR14.8bn to QR21.2bn.Earnings-per-share improved from QR1.17 to QR1.68, in 2013, a 43 percent improvement



The year 2013 saw the emergence of a more "balanced" income profile: reliable, quality earnings from wholesale activity and it was complemented by a very strong contribution from Treasury and a major improvement in retail performance



During the year, Barwa Bank's elevated profile gained significant recognition both domestically and regionally, a development reflected in both customer acquisition volumes and a number of prestigious industry awards. highlight was winning the Islamic Business and Finance Awards' "Best Bank" title




The bank continued to build the infrastructure that supports its strategic growth plans, including continuing investment in Information Technology and premises, with two new prestigious locations due to open during the first half of 2014.



Barwa Bank achieved a 25 percent Qatarisation at the group level. The bank continued to attract prominent Qatari banking professionals in a number of key leadership roles driving and executing the growth strategy.



Sheikh Mohamad bin Hamad bin Jassim Al Thani, Chairman, Barwa Bank Group thanked the entire team of Barwa Bank Group for delivering yet another strong year. "I can also confirm that our momentum has continued with a very positive start to 2014 and, through our first-class team and with support from the Board, we will continue to deliver innovative Shari'ah-compliant banking services to our clients and add value to our shareholders and the financial sector in Qatar", he said

 


The Peninsula




  MENA News Headlines
 Dec 3 2016 - Qatar's growth grows sharply at USD35.6bMENAFN
(MENAFN) NBK had reported that Qatar"s total growth accelerated to 2% year-on-year in 2016, and the country"s non-hydrocarbon sector activity cooled as manufacturing contracted, also gas production ...

 Dec 3 2016 - Jordan's government to serve citizens, national interestsMENAFN
(MENAFN) According to Jordan News Agency, Petra, Minister of State for Media Affairs Mohammad Momani had announced on Thursday that the government is determined to take decisions that serve citizens ...

 Dec 3 2016 - Lebanon to be under fiber optic coverage by 2020MENAFN
(MENAFN) According to Lebanese Telecoms Minister Boutros Harb, his country has already started installing fiber optics in big cities, and 85% of the Lebanese population will have access to the ...

 Dec 3 2016 - Investing in an uncertain worldMENAFN Press
(MENAFN Press) Investing in an uncertain world Smart investing with Bastien Jack 2016 will go down in history as a year that defied expectations. LONDON, UK, UK, December 2, 2016 ...

 Dec 3 2016 - UpChefs Launches New Product on Amazon to Help Kids Eat Their FoodMENAFN Press
(MENAFN Press) UpChefs Launches New Product on Amazon to Help Kids Eat Their Food Fun Sandwich Bread Cutter Shapes for Kids is the newest effective partners for parents, especially ...

 Dec 3 2016 - Stack8 to Preview its New UC Managed Services Offerings at Cisco Connect Montreal 2016MENAFN Press
(MENAFN Press) Stack8 to Preview its New UC Managed Services Offerings at Cisco Connect Montreal 2016 Stack8 at Cisco Connect Montreal Stack8 Logo Join Stack8 at Cisco Connect Montreal Booth ...

 Dec 3 2016 - Legendary Tuskegee Airmen 75th Anniversary Celebration Hosted by the Tuskegee Airmen Scholarship FoundationMENAFN Press
(MENAFN Press) Legendary Tuskegee Airmen 75th Anniversary Celebration Hosted by the Tuskegee Airmen Scholarship Foundation Tuskegee Airmen - One of the Most Decorated Military Groups in the History ...

 Dec 3 2016 - World Prostate cancer Market - Trends, Drivers, Strategies, Applications and Competitive Landscape to 2027MENAFN Press
(MENAFN Press) World Prostate cancer Market - Trends, Drivers, Strategies, Applications and Competitive Landscape to 2027 Global Prostate cancer Information, by product type hormone therapy, ...

 Dec 3 2016 - Global Robotics in Healthcare Market 2016 Share, Trend, Segmentation and Forecast to 2021MENAFN Press
(MENAFN Press) Global Robotics in Healthcare Market 2016 Share, Trend, Segmentation and Forecast to 2021 focuses on top players in these regions/countries, with sales, price, revenue and market ...

 Dec 3 2016 - Qatar- Ajyal to screen trans-adapted version of 'The Idol'Gulf Times
(MENAFN - Gulf Times) The trans-adapted version of The Idol (Palestine, Qatar, UK, The Netherlands), Palestine's entry for the upcoming Oscars for ‘Best Foreign Language' film, will be screened ...

more...


 





Google

PayExpo_MENA
 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Search News
Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help