Doha Bank (DHBK) Q1 2026 earnings summary

Executive summary

• Q1 2026 profit after tax was QR 234.4m, down 6.8% YoY; profit before tax rose 3.5%.

• Loans and operating income advanced, while higher credit provisions and regional uncertainty weighed on results and outlook.

• Himma Transformation continued across digital innovation, credit, core banking, cost efficiency and international presence.

• A 15% cash dividend for FY2025 was approved; the EMTN program limit was increased to $4.25bn.

Financial highlights

• Total assets reached QR 121.2bn, up 5.1% YoY and 0.9% YTD; loans rose 14% YoY and 4.1% YTD to QR 70.5bn.

• Customer deposits were QR 56.6bn, down 1.9% YTD; the investment portfolio declined 4.5% YTD, as funding shifted toward more affordable borrowings.

• Net interest income was QR 497.4m, down 4.4% YoY; non-interest income rose 30.6% YoY and net operating income reached QR 708.5m, up from QR 681.8m.

• Net loan impairment was QR 251m versus QR 29m in Q1 2025, reflecting more cautious ECL assumptions and additional Stage 3 provisions.

• Earnings per share remained QR 0.08.

Outlook and guidance

• FY2026 loan growth guidance remains 5%, with growth paced to liquidity, legacy-asset management and selective pricing; CAGR target is ~7% to 2030.

• FY NIM guidance remains 1.75% ±10 bps; a 25-bp rate cut would reduce 2026 net interest income by QR 2m, though no further cuts are expected.

• FY cost-to-income guidance is 39%-40% and ROE guidance is 6.7%-7%; long-term ROE target is above 10%.

• Cost-of-risk guidance was revised to 110-125 bps; NPL guidance is 6%-6.1%, subject to Q2 portfolio review, with ~80% specific coverage targeted at year-end.

• GRE loans are targeted at 10%-14% of the book in 2026 and ~20% over 3-5 years; fee income target remains above 15% of operating income.