Qatar - Mubasher: The financial statements of Qatar First Bank showed a decline in losses for the first quarter of 2017 by 51% year-on-year, according to a bourse filing.

According to the company’s statement to the Qatar Stock Exchange (QSE) on Wednesday, losses reached QAR 9.6 million ($2.6 million) in Q1-17 compared to QAR 19.6 million ($5.4 million) in Q1-16.

The bank’s total assets declined by 3% quarter-on-quarter to QAR 5.8 billion, the statement noted, while income from the deposits of financial institutions increased by 46%, revenues from financing assets grew 42% compared to the same period last year, as it recorded QAR 6 million.