Khaliji Bank Net Profit Up 5.3% to QR169.49 MM in First Quarter of 2018

April 23, 2018

Khaliji net profit amounted to QR169.49 million in the first quarter of 2018, compared to QR160.94 million for the same period last year. The bank’s earnings per share recorded QR0.47, versus QR0.45 for the corresponding period of 2017.

The Group’s Comments:

Khaliji’s gross profit increased by 1.2% to QR316 million in the first quarter of 2018, of which QR244 million were generated from interest. Expenses decreased by 4.3% to QR141.8 million; of which QR44.1 million were spent on the bank’s personnel, and QR47.5 million went to impairment losses of loans. As a result, the net profit increased by 5.6% to QR169.5 million. Despite the increase in fair value of QR9.8 million, and the comprehensive income decreased by 29.3% to QR179.3 million, compared to QR253.5 million in the corresponding period of 2017.