Lesha Bank nine-month profits jumps 50.2% to QR210.4mn

Lesha Bank has seen a significant surge in its profits, with a 50.2% rise in net profit to QR210.4mn for the nine-month period ending September 30. This impressive growth comes as the bank continues its streak of consistent earnings expansion. The impressive results are bolstered by a remarkable 101% increase in assets under management (AUM) to QR23.6bn, driven by consistent client inflows and well-executed capital deployment.

The bank's overall financial health has also seen a boost, with total assets and investments growing by 29.7% and 6.7% respectively, to QR10.3bn and QR4.6bn. This disciplined scaling of capital is in line with the bank's strategic approach, which focuses on a diversified asset mix. Total income has also increased by a substantial 57.7% to QR399.5mn, while total equity has risen by 4.8% to QR1.5bn.

The bank's efficiency in capital and asset utilization is evident from the return on average equity and assets, which are 18.3% and 3.1% respectively. These strong financial metrics underscore the bank's ability to generate resilient returns across varying market conditions. Lesha Bank Chairman, His Excellency Sheikh Faisal bin Thani al-Thani, highlighted that these results reinforce the bank's strategic direction and its commitment to building a balanced, asset-backed platform that can withstand market fluctuations.

The bank's long-term value creation objectives, underpinned by robust governance, adherence to Shariah principles, and disciplined capital management, remain at the forefront. The bank's GCEO, Mohammed Ismail al-Emadi, noted that the performance was a result of meticulous capital deployment into high-potential opportunities, effective asset management, and a growing client base, all of which contributed to the bank's AUM growth and a more stable income stream.

Looking ahead, the bank is poised to leverage its strong capital base to capitalize on further opportunities in the coming quarters.