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Qatar’s Doha Bank targets Romania

Qatari Doha Bank yesterday unveiled further global expansion plans and said it will soon have a presence in Romania.

“We will have our office inaugurated in this East European country on February 15,” the bank’s Group Chief Executive Officer (CEO), R Seetharaman, told reporters.

South Korea is another country Doha Bank is exploring in which to set up operations. The bank is focusing on countries which have close links with Qatar. The bank hopes to spread its wings across the world, including this region, the US as well as the emerging Asian markets, in view of globalization.

Seetharaman said in India, Doha Bank was basically looking at non-banking financial activities such as leasing and trade financing.

Earlier, talking of robust 2007 financials of the bank, he said long-term shareholders have gained the maximum over the past five years in a row in terms of dividend income. Shareholders’ equity has grown over 4.4 times in this period while assets have jumped four times and net profits 7.7 times.

Return on equity is the best benchmark to assess a bank’s performance since it indicates how efficiently a bank deploys the shareholders’ money to make returns.

As for Doha Bank, the return on average equity was 32.47% last year, which was highest among the local banks, Seetharaman said. (thepeninsulaqatar)