Doha Bank (DHBK) Q1 2026 earnings summary

Executive summary

• Total assets grew 5.1% year-over-year to QR 121.2 billion, with loan growth of 14% year-over-year and 4.1% year-to-date.

• Profit after tax was QR 234.4 million, down 6.8% year-over-year, while profit before tax rose 3.5%.

• Strategic focus shifted to public sector and GRE lending, with GRE exposure rising to 10% of the loan book.

• Digital transformation and cost optimization initiatives continued, including branch reductions and core banking upgrades.

• Board approved a 15% cash dividend and increased EMTN program to $4.25Bn.

Financial highlights

• Net interest income for Q1 2026 was QR 497.4 million, down 4.4% year-over-year, while non-interest income surged 30.6% year-over-year.

• Operating income grew 3.9% year-over-year and 11.7% quarter-on-quarter.

• Customer deposits increased 12.8% year-over-year but fell 1.9% year-to-date to QR 56.6 billion.

• Loans and advances to customers increased to QR 70.5 billion from QR 61.8 billion year-over-year.

• CET1 ratio at 12.06%, total CAR at 17.86%.

Outlook and guidance

• Loan growth guidance for 2026 maintained at 5%, with a CAGR target of ~7% to 2030.

• NIM guidance for 2026 is 1.75% ±10bps; ROE guidance is 6.7%-7%.

• Cost to income ratio guidance remains at 39%-40%.

• NPL guidance for 2026 is 6%-6.1%; specific provision coverage target is 80%.

• Management increased downside scenario probability due to heightened regional geopolitical risks.