Doha Bank plans branches in India

Dubai, Mar 30 (UNI) Doha Bank has announced plans to open branches in India once it receives approval from the Qatar Central Bank.

Chairman of the bank's board, Sheikh Fahad bin Mohammed bin Jabor Al Thani, told the shareholders that it is also expanding its scope of business to cover Islamic banking and bond issuance.

The bank's 5otal assets grew by 39.5 per cent to 15.2 billion Qatari Riyals last year from 10.9 billion Qatari Riyals in 2004.

Loans and advances rose by 52.6 per cent over the previous year.

Total deposits grew by 36.6 per cent to 2.96 billion Qatari Riyals, while net profits rose by 114.4 per cent to reach 789.9 million Qatari riyals from 368.4 million Qatari Riyals in 2004.

UNI XC JN HS1420