Doha – Mubasher: Qatar First Bank (QFB) turned to losses in the fourth quarter of 2016, according to a bourse statement.

The bank incurred losses of QAR 269.07 million ($73.83 million) in Q4-16, against profits of QAR 130.46 million ($35.8 million) in Q4-15.

Losses attributable to shareholders reached QAR 266 million in fiscal year 2016, compared to net profits of QAR 66 million a year earlier.

Loss per share amounted to QAR 1.33 in FY16, compared to earnings per share of QAR 0.33 in FY15.

The company’s stock fell 5.51% to QAR 8.75 in Wednesday’s early trades, with a turnover of QAR 6.57 million that was generated from the exchange of 753,340 shares.