Qatar First Bank Revenues in 2016 Turns to a Loss of QR  265.6 Million   
The loss per share QR 1.34   
 
March 14, 2017 
 
Qatar First Bank LLC disclosed its financial statements for the period ended 31/12/2016  showing a loss amounting to QR 265.6 million compared to a net profit of QR 66 million in the corresponding period in the previous year. The loss per share stood at QR 1.3 in the fiscal period ended 31.12.2016 compared to earnings per share of QR 0.34 in the corresponding period of the previous year.
 

The Group's Comment

Qatar First Bank's income from non-banking activities increased by 6.2% to QR 442.7 million in 2016, while its investments incurred losses as result of negative change in the fair value worth QR176.5 million compared to QR 138.1 million in the same period last year. Deducting share of investors worth QR 386.1 million, then the bank's total income drops 40% compared to last year. In contrast, total expenses increased by 9.8% to QR 628.4 million. Hence, QFB incurred a net loss of QR265.7 million for its stakeholders, compared to QR 66 million last year.