Mubasher:  Doha Bank on Wednesday reported a 76.5% surge in fourth-quarter profits.

Qatar's fifth-largest lender by assets made profits of QAR 60 million ($16.6 million) in Q4-17 from QAR 34 million ($9.4 million) in the same period a year earlier, according to a statement to the Qatar Stock Exchange (QSE).

In 2017, the bank’s net profits rose 5.3% to QAR 1.11 billion, versus QAR 1.054 billion the previous year.

Earnings per share (EPS) amounted to QAR 3.02 in Q4-17, compared to QAR 3.12 in Q4-16, according to the bank’s statement.

Moreover, the lender’s profits increased 2.9% to QAR 1.05 billion in the first nine months of 2017 from QAR 1.02 billion in the same period the year before.

The bank’s total assets levelled up to QAR 93.5 billion from QAR 90.4 billion, the statement showed.

The board has proposed the distribution of cash dividends of QAR 3 per share to the shareholders, Fahd Bin Mohammad Bin Jabor Al Thani, Doha Bank’s chairman, said.