Mubasher: Qatar First Bank (QFB) on Thursday announced that losses declined 51.8% year-on-year during the fourth quarter of 2017. 

Losses narrowed to QAR 129.7 million in Q4-17, compared to QAR 269.1 million in Q4-16, according to the bank’s statement to the Qatar Stock Exchange (QSE).

In the full-year 2017, QFB’s losses rose 1.3% to QAR 269.3 million, up from QAR 265.7 million in 2016.

Loss per share amounted to QAR 1.35 for the year ended 31 December 2017 versus a loss per share of QAR 1.33 for in the previous year.

The bank’s board proposed not to distribute profit.

By 09:50 am Qatar time, QFB’s stock topped the market’s losers falling 7.17% at QAR 6.21.