Mubasher: Qatar National Bank (QNB) set the price target (PT) of Ahli Bank at QAR 39, 2.6% down from the stock’s closing level of QAR 38 on Monday.

Ahli Bank’s profits are expected to grow 5.5% to QAR 666.7 million by the end of 2017, backed by an increase of 4.2% in net revenues, according to a research note.

QNB forecasted the Ahli Bank’s profits for 2018 to rise 9.6% to QAR 730.5 million.