The Resolutions of the General Assembly Meeting of the Shareholders

The Resolutions of the General Assembly Meeting of the Shareholders

H.E. Sheikh Fahad Bin Mohammad Bin Jabor Al-Thani, Chairman of Doha Bank, announced that the Ordinary General Assembly of the Shareholders in its meeting held on 06 March 2019 endorsed the Board of Directors’ corporate Governance report for year 2018 and the balance sheet and profit and loss account for the financial year ended on 31/12/2018 and also endorsed the Board’s recommendation to distribute cash dividends of QR (1) per share to the shareholders. During the same meeting, H.E. the Chairman and Board members were discharged from the responsibility for the year 2018 and their remunerations were determined. His Excellency also stated that the AGM has appointed KPMG to audit Doha Bank’s accounts for the year 2019.

During the EGM, H.E the Chairman also announced that the shareholders have unanimously approved the proposed amendments to Articles (6), (23), (31) and (57) of the Articles of Association of the Company. He also said that the amendments made to Article (6) of the AOA include amending the total shares capital from 310,046,702 shares to 3,100,467,020 shares and amending Doha Bank’s shares nominal value from QR.10 per share to QR.1 per share in order to comply with the Qatar Financial Markets Authority’s decision issued by QFMA’s Board of Directors on 16/12/2018 in this regard.

H.E. Sheikh Fahad Bin Mohammad Bin Jabor Al-Thani extended his sincere thanks and gratitude to the Board members and Executive Management for their efforts and achievements during the year and to the shareholders, representatives of the supervisory authorities in the State of Qatar and the auditors and wished them all the success and prosperity.

Fahad Bin Mohammad Bin Jabor Al-Thani,

Chairman

Statement of H.E. Chairman of the Board

The General Assembly Meeting Held on March 6th, 2019

In the Name of God, Most Gracious, Most Merciful,

Dear Shareholders,

Ladies and Gentlemen,

Al Salamu Alaykum

On behalf of myself and the members of the Board of Directors (BOD), I would like to thank you all on this occasion for attending this meeting. I would also like to extend my sincere thanks to the BOD and the Executive Management for the achievements accomplished during the year 2018.

With the wise leadership of His Highness Sheikh Tamim Bin Hamad Al-Thani, The Emir of Qatar, and the cooperation of all governmental institutions in the country, we were able to overcome the economic and political challenges facing the region.

The Bank’s audited financial statements for year 2018 shows that the total assets reached to QR 96.1 billion. Net loans and advances reached QR 59.8 billion. The investment portfolio stood at QR 20.6 billion registering a growth of 17.4%. Customer deposits stood at QR 55.5 billion and the total shareholder’s equity by year end reached QR 12.7 billion.

The net profit by the end of 2018 recorded QR 830 million as against QR 1,110 million in 2017 after taking significant loan loss provisions both in Qatar and overseas branches, and to meet the requirements of IFRS9 and the requirements of the Central Bank to strengthen the financial position of the bank. Moreover, the average return on share stood at QR. 1.97 and the return on average shareholders’ equity reached to (9%) and the return on average assets reached to (0.88%). Based on these results, the BOD decided to put up a recommendation to the AGM to distribute cash dividend of QR (1) per share i.e. 10% of the paid up capital.

During the year, the Board of Directors approved the bank’s five-year strategic plan, which incorporates certain amendments to the bank’s business strategy especially with regards to the activities of overseas branches and representative offices across the Globe. The future plan of the bank includes implementation of an effective Risk Management strategy both at the local and international fronts, recruiting Qatari nationals, enhancing the levels of staff performance by recruiting highly experienced and qualified human resources, improving banks service delivery channels, upgrading the level of Corporate Governance in the bank, diversifying the income sources and strengthening the financial position with a view to achieving the highest level of effective operational performance.

The bank has taken all measures to enhance its Corporate Governance system, whereby in addition to the BOD roles and responsibilities, BOD Committees roles and responsibilities, Executive Management Committees roles and responsibilities and Code of Ethics, we also approved the bank’s Corporate Governance framework/Policy and Procedures. The BOD also enhanced the concepts of internal controls, transparency, disclosures, shareholders relations and stakeholders’ rights, etc. However, the bank’s report on Corporate Governance for the year 2018 is readily available to you in this meeting which reflected the Corporate Governance standards implemented by the bank.

On behalf of the Board of Directors and myself, I would like to extend my sincere thanks and gratitude to H.H. The Emir, Sheikh Tamim Bin Hamad Al-Thani, H.E. The Prime Minister, Sheikh Abdullah Bin Nasser Al-Thani, H.E. The Minister of Finance, Mr. Ali Sharif El-Emadi, H.E. The Minister of Commerce and Industry, Mr. Ali Bin Ahmad Ali Al Kuwari, and H.E. The QCB Governor, Sheikh Abdullah Bin Saoud Al-Thani, and to all officials of Qatar Central Bank, the Ministry of Commerce and Industry, Qatar Financial Markets Authority and Qatar Exchange for their continued cooperation and support.

Many thanks and appreciation to all the shareholders and customers for their confidence in the bank and to the Executive Management and all staff of the bank for their continuous cooperation and efforts which led to achieving these impressive results for Doha Bank.

Source: Doha Bank