Doha Bank has posted a net profit of QR1.31bn ($360m) in the full year 2013, a slight increase of 0.6 per cent above 2012 results.

The bank did see a slowdown in profits in the final three months of last year compared to the final quarter in 2012.  Fourth quarter profits hit QR236m, marking a 3 per cent decline on Q4 profits in 2012.  

Doha Bank’s lending appetite grew throughout 2013, with loan volumes increasing by 5.5 per cent in the final quarter, compared with the same period the previous year.  

Total loan volume for the whole of 2013 stands at QR41.1bn, marking an increase of 22 per cent on the previous year.

Deposits also rose by 24 per cent year-on-year to reach QR32.5bn.  

The Qatari banking sector is seen as relatively stable with strong levels of profitability. Given this strength, many of the Gulf country’s banks, including Doha Bank, are looking to further expand overseas in the coming years.