DUKHAN BANK’S AGM APPROVES 14% CASH DIVIDEND FOR SHAREHOLDERS

Accelerated digital transformation and steady performance accompanied by positive financial results

• Rapid progress of digital transformation among prominent achievements of 2021
• A strong performance in total assets reaching QR 110.7 billion, driven by strong growth in the finance portfolio that exceeded QR 75 billion
• Customer deposits reach QR 77 billion (44% increase from 2020)
• Shareholders' equity exceeds QR 14.0 billion

Doha – Qatar, 12 April 2022 – Dukhan Bank convened its virtual ordinary Annual General Meeting (AGM) on Sunday 10 April, 2022. The meeting was chaired by H.E. Sheikh Mohammed Bin Hamad Bin Jassim Al-Thani, Chairman of the Board of Directors, in the presence of 90% of the Bank’s shareholders.

During the AGM, all the agenda items were discussed including the hearing and approval of the Board's Report for the year ending December 31st, 2021, endorsing the bank’s proposals for future business plans. The AGM also approved the Board’s recommendation to distribute cash dividend amounting to 14% of the share’s nominal value at the rate of QR 1.4 per share, along with the validation of the External Auditor's Report of the year ending December 31st, 2021 and discussing the bank’s balance sheet for the year, including profits and losses.

In addition, the assembly’s agenda featured a discussion around the Shari'ah Supervisory Board’s report, the approval of the 2021 financial statements and the Board of Directors remuneration, as well as the appointment of the external auditor and their fees for the financial year 2022.

Strong Financial Performance at all levels

H.E. Sheikh Mohammed Bin Hamad Bin Jassim Al-Thani, Chairman of the Board of Directors, presented a detailed report on the bank’s activities and financials, highlighting the most important results achieved in 2021. The bank attained a considerable net profit of QR 1,193 million, while recording a 7% growth in total revenues which reached QR 4.05 billion, and a rise of total assets reaching QR 110.7 billion (28%), supported by financing assets that exceeded QR 75.2 billion. In addition, the total customer deposits amounted to QR 77.4 billion, recording a considerable growth of 44%.

These positive financial results reflect the bank’s strong performance, its leading position in the Qatari market and the integrity of the risk management systems it follows. The same results are clearly echoed in the shareholders ’equity that exceeded QR 14 billion.

H.E. Sheikh Mohammed also attributed the bank's outstanding performance to the digital transformation undertaken as a top priority, which has been a champion in providing seamless financial services to customers ensuring business continuity and uninterrupted banking services. These factors acted as the backbone in providing services without delay during the most challenging times. Moreover, the bank enhanced its online banking portfolio by developing its website and mobile application, increasing the efficiency of the call center, and using Dukhan Bank’s contactless payment methods.

The aforementioned achievements were mirrored by the evaluation of long-term foreign exchange ratings from international credit rating agencies. H.E. Sheikh Mohammed further added that Fitch has confirmed the Dukhan Bank’s long-term credit rating at ‘A’, alongside Moody’s rating of ‘A2/Prime-1’ with a stable outlook. Both ratings reflect the strength and robustness of the Qatari economy as well as the bank’s independent credit, which exhibits strong financial assets position and an ability to play a leading role in the Islamic banking sector in Qatar.

Focus on continued digital transformation

In the context of its aspiration to remain 'Qatar's Bank of Choice', 2021 demonstrated significant progress of Dukhan Bank’s digital transformation that aims to provide operational efficiency, profitability and a safe and seamless banking experience for customers. This progress was a result of the bank’s continuous innovation in tailoring digital products and services that enable customers to carefully plan their day-to-day finances in line with their evolving financial needs.

Dukhan Bank introduced a slew of new digital products during 2021. The Qatar Mobile Payment (QMP) service customers can make instant transfers to other wallets within Dukhan Bank and to wallets of customers at other banks that are registered via mobile application as a cashless and cardless payment service.

Pursuing its efforts to provide customers with the latest digital products and services, Dukhan Bank announced the launch of Dukhan Pay (D-Pay), its contactless payment platform, to meet customers’ increasing demand for digital transactions. Similarly, Apple Pay was launched by Dukhan Bank to allow the bank’s customers enjoy a safer, more secure and private way to pay.

Moreover, Dukhan Bank launched the Corporate Banking Digital Platform which offers a range of features suited for business that allow corporate administrators to manage their users, handle multiple level of approvals as required by corporate mandates, download transactions, view

account statements as well as fund transfers from own accounts, conduct intra-bank third party transfers, domestic and international transfers with seamless transition between web and mobile apps.

Prizes alongside transformation

The relentless efforts of the bank during the past year were met by a number of prestigious awards. Best Islamic Digital Bank in Qatar (Global Finance), Most Innovative Digital Bank in Qatar (Global Finance), Best Digital Transformation Bank 2021 (International Finance Magazine), Best New Contactless Payment Platform 2021 – Dukhan Pay/ D-Pay (International Finance Magazine), Best Corporate Digital Services Qatar 2021 (World Economic Magazine Award), Best New Contactless Payment Platform Qatar 2021 - D-Pay (World Economic Magazine Award), one of the 'Top 10 Unlisted Companies in Qatar’ (Digital Qatar Symposium & Awards 2021, hosted by Forbes Middle East). The bank was also highly commended at the MEED Retail Banker International Trailblazer Awards for best use of machine learning for its virtual assistant “Rashid”, it thus became the first bank in the Middle East region to win this award, which recognises best-in-class banking institutions and individuals for their innovative services offering and commitment to customer excellence.

Dividend Distribution

The distribution of the dividend for the fiscal year 2021, will begin on Tuesday 12 April, 2022. For those listed on the Dukhan Bank shareholder register, dividends will be deposited directly into their shareholder accounts. The shareholders who have not registered their bank account must update their details at the Shareholders Affairs Department (2nd floor) at the bank’s headquarters located at Suhaim bin Hamad Street, by filling the data update form, available on the website, alongside the official documents.