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4-Traders Homepage  >  Equities  >  DOHA SECURITIES MARKET  >  Doha Bank (Q.S.C)    DOBK   QA0006929770

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Doha Bank (Q.S.C) : Doha Bank enters in agreement with Indiabulls for NRI Home Loans

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10/03/2012 | 08:05am CEST

Doha Bank enters in agreement with Indiabulls for NRI Home Loans



Doha Bank entered into an agreement with Indiabulls Group for offering of Mortgage Loans to NRI customers for acquiring properties in India. The signing ceremony held at Doha Bank Head Office at West Bay. The agreement was signed by Mr R Seetharaman, Group CEO of Doha Bank and Mr Ajit Mittal, Group Executive Director of Indiabulls.

Indiabulls Group is one of leading business houses in India in the areas of Housing Finance, Real Estate and Infrastructure development. Indiabulls Housing Finance Company has its presence through 180 branches in 100 cities across India



Doha Bank's NRI customers will be able to seek Mortgage Loans from Indiabulls to acquire properties in India. This is a unique arrangement to serve NRI customer for their property needs back home.

Mr. R Seetharaman, Group Chief Executive Officer, Doha Bank said: "The tie-up with Indiabulls will provide an opportunity to Doha Bank NRI customers to approach for Housing Loans to purchase property in India. We are committed to serving our customers in every possible manner and provide them one more financing product experience, as Doha Bank is only bank in Qatar to have such arrangements for its NRI customers"

Commenting on the alliance of Indiabulls with Doha Bank, Mr. Ajit Mittal - Group Executive Director, Indiabulls Group, said, "Partnership with Doha Bank marks an important milestone in Indiabulls' quest for a global footprint. GCC in general and Qatar, Kuwait, and UAE in particular. We are very proud to have partnered with Doha Bank, which is one of the largest retail banks in Qatar - we would serve the growing demand from expatriate Indians for home loans and property acquisition. Our housing projects have evoked a tremendous interest among the NRI community."

The Executive Vice President of Indiabulls Group, Mr. Kubeir Khera was also present on the occasion. He said, "Our constant innovations are changing the skyline of Indian cities. Our financial products are helping people realize their dreams. We are glad to be getting associated with Doha Bank"

Mr Chris Fellner, Head of International Banking, Doha Bank, highlighted that this arrangement will provide convenience to NRI customers to get hassle free Housing Loans to acquire properties in their home country, going forward Doha Bank will also expand these offering through its branches in UAE and Kuwait. He added that Doha Bank also offers remittances to India as Instant credit, the NRI customers can directly transfer money to India from their Doha Bank Account.



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Financials ( QAR)
Sales 2017 2 844 M
EBIT 2017 1 776 M
Net income 2017 957 M
Debt 2017 -
Yield 2017 7,77%
P/E ratio 2017 9,40
P/E ratio 2018 8,80
Capi. / Sales 2017 3,33x
Capi. / Sales 2018 3,12x
Capitalization 9 456 M
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Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 10
Average target price 31,9  QAR
Spread / Average Target 4,6%
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Managers
NameTitle
Raghavan Seetharaman Group Chief Executive Officer
Fahad bin Mohammad Jabor Al-Thani Chairman
Neil Buckley Head-Technology & Operations
David Challinor Head-Group Finance
Abdulla bin Mohamed Jabor Al-Thani Non-Executive Director
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