Doha Bank (DHBK) Q2 2025 earnings summary

Executive summary

• Net profit for H1 2025 reached QAR 467 million, up 8.1% year-on-year, with total assets rising to QAR 123.0 billion and investment securities up 10.3% year-to-date.

• Digital transformation accelerated with over 20 new features launched, award-winning corporate app, and increased mobile banking adoption.

• Strategic MoU signed with Blackstone to enhance private market access for Qatari investors.

• Credit ratings reaffirmed by Fitch and Moody's; a leading private sector investor joined the shareholder base as QIA reduced its stake.

• Successfully closed EUR 500 million syndicated loan and issued USD 500 million bond, diversifying funding sources.

Financial highlights

• Net interest income rose 1.5% year-on-year to QAR 989 million; fee and commission income grew 10.4% year-on-year.

• Net impairment losses decreased by 23.9% year-on-year; net operating income for H1 2025 was QAR 1,305 million.

• Loan book grew 1.7% year-on-year but declined 1.6% year-to-date; customer deposits remained stable at QAR 50.9 billion.

• Cost-to-income ratio at 39.1% for H1 2025; return on equity at 6.80%.

• Dividend of QAR 310 million (10% cash) paid for 2024.

Outlook and guidance

• Loan growth target for 2025 maintained at 3%-5%, with expectations for pipeline drawdowns in H2.

• NIM expected to improve in H2 2025, with guidance at 1.85% ±10 bps.

• Cost-to-income ratio guidance for full year at 37%-38%, with a three-year target of 30%-31%.

• Cost of risk guidance remains at 120-130 bps, with potential for improvement if asset resolutions materialize.

• NPL ratio guidance to reduce to 7% by year-end, with a medium-term target of 4.5%-5%.