Mubasher: Doha Bank, Qatar's fifth-largest lender by assets, confirmed the issuance of debt instruments of two billion riyals for the objective of supporting the growth and expansion of the bank, the bank’s head said.

The risk reserve now represents 2.5% of the portfolio credit, an “acceptable percentage” according to the bank’s CEO Raghavan Seetharaman.

The bank’s non-performing loans reached QAR 1.6 billion and they were 120% covered with provisions of QAR 1.88 billion, Seetharaman added in an interview with CNBC Arabiya.

“The consumption loans, which include car and housing credit facilities as well as credit cards, represent 18% of total assets of the credit portfolio.

The CEO said that the bank managed to get a big market share in consumption loans, despite the severe competition in Qatar, with 17 banks owning more than 300 branches in the country.

The bank’s nine-month profit came to QAR 1.142 billion with a rise of 0.66%, compared to QAR 1.134 billion in the same period 2014. 

The leading banking provider previously reported a profit of QAR 341 million in the third quarter this year, versus QAR 347.4 million in 2014.