Qatar First Bank Net Loss Increased to QR28.64 Million in First Quarter of 2018

April 30, 2018

QFB's net loss amounted to QR28.64 million in the first quarter of 2018, compared to a net loss of QR9.561 million. QFB’s loss per share reached QR0.14, compared to a loss of QR0.5 per share in the corresponding period of 2017.

The Group’s Comments:

The total income decreased by 24% to QR92.4 million in the first quarter of 2018, of which QR83.7 million were generated from non-banking activities. Total expenses decreased by 4% to QR123.9 million, of which QR94.2 million went to non-banking activities, and QR12.5 million for personnel. As a result, the company's loss in the first quarter tripled to about QR28.6 million.