Qatar PR Network, Online Press Release from qatar and Doha city
 
Banking & Insurance(Banking & Investments)
Filter PR by
  
Barwa Bank Group Discloses its Financial Statement for the First Quarter of 2018
Barwa Bank Group Discloses its Financial Statement for the First Quarter of 2018

Net profit exceeded 208 million Qatari Riyals, an increase of 15%

Doha – Qatar, April 2018- Barwa Bank Group disclosed its financial statements for the first quarter ending 31st March 2018, where the Group has recorded a net profit of QAR 208.7 million, representing an increase of 15% as compared to the same period in 2017.

His Excellency Sheikh Mohammed Bin Hamad Bin Jassim Al Thani, Chairman and Managing Director of Barwa Bank Group, said: “The Group has succeeded in achieving strong and steady results for the first three months of the year, by taking advantage of the extensive customer base that the Group has been able to build over the past years. This also came in line with the management’s ability to adapt to the current market conditions by working with dynamism and flexibility, which reflected positively on all financial indicators. The Group achieved a return on equity of 11.7%”. 
 
HE the Chairman expressed his confidence in Barwa Bank Group’s commitment to continue delivering its responsibilities this year by working hard on strengthening its position across the Islamic banking sector in Qatar and exerting greater efforts to support the national economy in achieving the vision of His Highness Sheikh Tamim Bin Hamad Al Thani, the Emir of the State of Qatar, and translating the ambitions of the Government’s leadership. 

From his part, Mr. Khalid Al Subaie, Group Chief Executive Officer at Barwa Bank Group said that the business model of the Group, the diversity of income sources along with the variety of its innovative products which suit all customers segments, have enabled the bank to increase its financing revenues by 9.5% exceeding QAR 517 million as well as its commission revenues exceeding QAR 55 million, which recorded an increase of 41%. In addition, the Group’s total assets have increased by 9.5%, exceeding QAR 48.8 billion, which was supported by a significant rise in customer deposits of 6.6% reaching QAR 31.5 billion.

Mr. Al Subaie thanked all customers for their continuous support, trust and loyalty, while praising the effort and hard work of Barwa Bank Group’s management and staff in delivering an expectional banking service with professionalism and commitment. He also valued Qatar Central Bank continuous support to the Group. 

Posted by : Qatar and Doha City PR Network Editorial Team
Viewed 783 times
PR Category : Banking & Investments
Posted on : Saturday, April 28, 2018  5:29:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of QatarPRNetwork.com.
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories

 
 
Most Viewed Press Release posted in the last 7 days
Discover Make Up for Ever's New Additions to Ultra HD Range [18737-Views]
DNA or Olay? [18065-Views]
Foreo Launches Artificially Intelligent Toothbrush to Offer Emotional Support [17671-Views]
100% Vegan New… Body Yogurts 15 Seconds to Glowing Healthy-looking Skin Spoon It on [15711-Views]
Emporio Armani Eyewear Fall/Winter 2017/2018 Opposites Attract [15006-Views]
COLAB - Dry Shampoo [13842-Views]
Michael Kors Ramadan 2018 Capsule Collection [13776-Views]
Emma Stone 2018 Met Gala Heavenly Bodies: Fashion and the Catholic Imagination [13407-Views]
Therése Neaimé- Sold to perfection [13263-Views]
ORANGE & BERGAMOT Awaken the Cult Icon New Additions [12415-Views]
Marni Eyewear Collection, Exclusively Available at Grand Optics [12214-Views]
Leaves of Joy [12156-Views]
Healthy Hair with HASK [12013-Views]
Elemis Super Food Skin Care Range [11328-Views]
Marchon Eyewear – Press Event [10988-Views]
Palladio Beauty - a Professional Line of Botanical & Vitamin-Infused Cosmetics [10972-Views]
SOUQ ‘Everything For You Sale' Offers Customers Thousands of Deals [10783-Views]
Highlighting Powder Collection [10676-Views]
GUESS SS18 Accessories [10488-Views]
Timeless Ties [10230-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories