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QSE-listed banks’ profits rises 2.6% in Q3

QSE-listed banks’ profits rises 2.6% in Q3
Qatar National Bank (QNB) recorded the highest net profit of QAR 6.4 billion (Photo credit: Arabianeye - Reuters)
Doha Bank
DHBK
0.53% 2.47 0.01
QNB
QNBK
0.44% 18.33 0.08
QIB
QIBK
-2.33% 24.32 -0.58

International Islamic
QIIK
0.08% 11.82 0.01
Al Ahli
ABQK
0.00% 3.74 0.00
Al Khaliji
KCBK
0.95% 2.24 0.02

The Commercial Bank
CBQK
0.48% 4.80 0.02
Lesha Bank
QFBQ
-0.48% 1.87 -0.01
AlRayan Bank
MARK
0.04% 2.33 0.00

By: Mohamed Farouq

Doha – Mubasher: The financial statements of the nine banks listed on the Qatar Stock Exchange (QSE) for the third quarter of fiscal 2016 showed a year-on-year rise of 2.6% in their profits.

Total profits of the nine banks for Q3-16 reached QAR 8.57 billion ($2.35 billion), versus QAR 8.35 billion ($2.29 billion) for Q3-15.

Also, total earnings for the first nine months of the year increased by 2.3% to QAR 16.99 billion ($4.66 billion from QAR 16.61 billion ($4.56 billion) for the same period of 2015.

Qatar National Bank (QNB) recorded the highest net profit of QAR 6.4 billion for Q3-16 and QAR 9.65 billion for the nine-month period.

Meanwhile, Al Khaliji Bank made the lowest profits in Q3-16 with QAR 104.8 million, and Qatar First Bank (QFB) reported the lowest profits for the January-September period this year with QAR 5.08 million.

QFB and Commercial Bank of Qatar (CBQ) suffered losses in Q3-16 with a net loss of QAR 12.96 for the former and QAR 1.4 million for the latter.

Translated by: Elwy el-Manzalawy