Khalid Yousef al-Subeai

Barwa Bank's profit up by 43% year-on-year

Barwa Bank's profit reached QR641mn in the third quarter of this year, up by 43% on this time last year. The bank registered a third-quarter net profit of QR447mn in 2013, with total assets increasing to QR36.6bn, a 28% rise over the same period in 2013. Financing assets showed a 31% growth to QR22bn in the third quarter and customer deposits grew by 30% to QR22.1bn. Earnings-per-share improved to QR2.12 compared with QR1.9 for the same period last year. The bank's acting group chief executive officer, Khalid Yousef al-Subeai attributted the growth to improvment in processes and managment practises, which has led to greater efficiency and improved profitibilty.

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