Doha Bank Q P S C : 2nd Quarter Results

Doha Bank (Q.P.S.C.)

Interim condensed consolidated financial information

30 June 2023

Doha Bank Q.P.S.C.

Interim condensed consolidated financial information

CONTENTS	PAGE(S)
Independent auditor's review report	1
Interim condensed consolidated statement of financial position	2
Interim condensed consolidated income statement	3
Interim condensed consolidated statement of comprehensive income	4
Interim condensed consolidated statement of changes in equity	5
Interim condensed consolidated statement of cash flows	6
Notes to the interim condensed consolidated financial information	7-23

Review report on the interim condensed consolidated financial information to the board of directors of Doha Bank Q.P.S.C.

Introduction

We have reviewed the accompanying interim condensed consolidated statement of financial position of Doha Bank Q.P.S.C. (the "Parent") and its subsidiaries (together "the Group") as at 30 June 2023 and the related interim condensed consolidated income statement and interim consolidated statement of comprehensive income for the three month and six month periods then ended, and the related interim condensed consolidated statements of changes in equity and cash flows for the six month period then ended and other explanatory notes. Management is responsible for the preparation and presentation of this interim condensed consolidated financial information in accordance with International Accounting Standard 34, 'Interim Financial Reporting' ('IAS 34') as issued by the International Accounting Standard Board (IASB). Our responsibility is to express a conclusion on this interim condensed consolidated financial information based on our review.

Scope of Review

We conducted our review in accordance with International Standard on Review Engagements 2410, 'Review of interim financial information performed by the independent auditor of the entity'. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the accompanying interim condensed consolidated financial information is not prepared, in all material respects, in accordance with IAS 34.

For and on behalf of PricewaterhouseCoopers - Qatar Branch

Qatar Financial Market Authority registration number 120155

Waleed Tahtamouni

Auditor's registration number 370

Doha, State of Qatar

26 July 2023

PricewaterhouseCoopers - Qatar Branch, P.O.Box: 6689, Doha, Qatar

Ministry of Commerce and Industry License number 6 / Qatar Financial Markets Authority License number 120155

T: [phone], F:[phone], www.pwc.com/me

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Doha Bank Q.P.S.C.

(All amounts are expressed in '000 Qatari R�ya/s unless otherwise stated)

				30June	31 December	30 June
			2023	2022	2022
		o!c�		nandited	Audited	(Unaudited)
	Assets		3,413,340	3,668,161
	Cash and balances with central banks	�	5,554,823
	Due from banks	6,424,615	8,650,888	6,561,577
	Loans and advances to customers	X	55,794,975	58,078,974	60,740,925
	Investment securities	l)	25,380,346	24,963,875	24,372,096
	Other assets		1,382,030	1,608,546	1,114,857
	Investment in an associate		9.973	9,898	10,132
	Proeer�. furniture and eguiement		6392082	664,649	672,689
	Total assets		93,044.361	97.644.991	99,027,099
	Liabilities and Equities
	Liabilities		21,999,198	19,239,053	16,870,138
	Due to banks	1(1
	Customers deposits	11	44,077,638	50,129,735	53,691,975
Debt securities	12	2,542,136	2,516,493	2,516,567
Other borrowings	I;	7,474,705	8,891,053	9,706,980
Other liubilitics		2,765-132)		2,789,849	2,329,909
	Total liabilities		7818S81998	83,566,183	5,115.569
Equity	1-1	3,100,467		3,100,467	3,100,467
Share capital
Legal reserve		5,095,673	5,095,673	5,094,607
Risk reserve		1,312,600	1,312,600	1,029,600
Fair value reserve		(178,934)	(124,380)	(408,062)
Foreign cun-ency translation reserve		(80,231)	(81,828)	(74,162)
Retained earnings		9352788	776,276	1,169.080
Total equity attributable to shareholders of		10,185,363	10,078,808	9,911,530
	the Bank
In ·truments eligible as additional Tier I ca�ital	I 5	4,0002000		4,000,000	4.000.000
Total eguity		14,1851363		14.078,808	13,911,530
Total liabilities and egui!l;:		93,044,361		97,644,991	99,027,099

The interim condensed consolidated financial information was approved by the Board of Directors on 26 July 2023 and was signed on its behalfby:

Gudni Stiholt Adalsteinsson

Acting Chief Executive Officer

Fahad Bin Mohammad Bin Jabor Al Thani	Mohammad Bin Jabor Al Thani
Abdul Rahman Bingz
Chairman	Managing Director

Independent auditor's review report is set out on page 1.

The attached notes 1 lo 21 fonn part of this inlerim condensed consolidated financial infonnation.

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Doha Bank Q.P.S.C.

(All amounts are expressed in '000 Qatari Riyals unless otherwise stated)

INTERIM CONDENSED CONSOLIDATED INCOME STATEMENT

For the three and six-month periods ended

		Three months ended	Six months ended
		30 June	30 June
		2023	2022	2023	2022
	Note	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)
Interest income		1,357,806	900,578	2,627,754	1,763,396
Interest expense		(820,430)	(304,339)	(1,598,877)	(523,459)
Net interest income		537,376	596,239	1,028,877	1,239,937
Fee and commission income		149,962	144,550	296,226	271,043
Fee and commission expense		(54,778)	(50,648)	(108,962)	(96,028)
Net fee and commission income		95,184	93,902	187,264	175,015
Net income from insurance activities		6,737	1,414	11,653	3,745
Net foreign exchange gain		26,230	36,252	53,345	75,038
Net income / (loss) from investment securities		47,783	(20,446)	63,387	33,127
Other operating income		1,710	4,711	8,602	10,897
		75,723	20,517	125,334	119,062
Net operating income		715,020	712,072	1,353,128	1,537,759
Staff costs		(133,822)	(125,145)	(260,173)	(253,117)
Depreciation		(22,634)	(25,785)	(45,216)	(51,284)
Net impairment reversal on investment securities		2,094	18,478	6,689	26,302
Net impairment loss on loans and advances to
customers		(267,902)	(247,122)	(471,717)	(436,366)
Net impairment (loss) / reversal on other financial
facilities		(677)	5,795	13,115	(3,382)
Other expenses		(77,103)	(74,740)	(154,639)	(152,733)
Total expenses and impairment		(500,044)	(448,519)	(911,941)	(870,580)
Profit before tax		214,976	263,553	441,187	667,179
Income tax expense		(31,563)	(19)	(49,140)	(2,200)
Profit for the period		183,413	263,534	392,047	664,979
Earning per share
Basic and diluted earnings per share (QR per
share)	17	0.06	0.08	0.13	0.21

Independent auditor's review report is set out on page 1.

The attached notes 1 to 21 form part of this interim condensed consolidated financial information.

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