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The Commercial Bank Profits in Q3, 2017 Drop 48% to QR
258.98 Million
Earnings per Share (EPS) amounted to QR 0.65
October 17, 2017
The Commercial Bank net profit in the third quarter of the year
stood at QR 258.98 Million compared to net profit of QR 499.35
Million in the corresponding period last year.
The Earnings per Share (EPS) amounted to QR 0.65 versus QR 1.39
in the corresponding period in 2016.
The Group Securities Comment:
Net operating income of the Commercial Bank
declined by 2.5% to QR 2654 Million in 9 months, of which QR
1835 Million was net interest. After deducting expenses of all
types: QR 545.1 Million, QR 1487 Million loss of loans and
investments, QR 309.5 Million. Other expenses and the addition
of a share of the profits of associates amounting to QR 115.8
Million, net profit decreased to QR 259 Million. There were
positive changes in fair value of QR 192.8 Million. As a result,
total income amounted to QR 451.7 Million compared to QR 636.8
Million in the corresponding period last year.
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