Qatari lender Doha Bank has reported a net profit of QAR1.37bn for 2015, a 1.1% rise compared to QAR1.35bn a year earlier.

The bank’s total assets were up by 10.3% to QAR83.3bn from QAR 75.5bn in 31 December 2014.

Net loans and advances surged 14.5% to QAR 55.6bn from QAR 48.6bn a year ago. Deposits increased 14.8% to QAR 52.8bn from QAR45.9bn in the prior year.

Doha Bank managing director H.E. Sheikh Abdul Rehman Bin Mohammad Bin Jabor Al-Thani said: "The Bank continues to perform well with total equity, as at December 2015, at QAR 13.3 billion, increase of 17.4% during the last year. Through the efficient asset allocation model the return on average Shareholders’ equity is 16.1% as at December 2015 one of the best in the industry.

"The Bank has achieved a very high return on average assets of 1.73% as at December 2015, which is a clear demonstration of the effective utilization of shareholder’s funds."

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By GlobalData