| |
Qatar First Bank's Net Loss Multiplies to
QR353.87 Million in First Half of 2018
July 31, 2018
Qatar First Bank showed a net loss of
QR353.87 million in the first half of 2018, compared to a net
loss of QR76.67 million in the same period last year, while its
loss per share amounted to QR1.77, versus a loss per share of
QR0.38 in the corresponding period of 2017.
The Group’s Comments:
Qatar First Bank's (QFB) total non-banking
income decreased by 4.4% to QR173.9 million in the first half of
2018. The bank made a total of QR73.6 million in other revenues,
compared to QR42 million in the corresponding period of last
year. However, QFB recorded a loss in the fair value of
investments amounting to QR290.4 million, versus a loss of
QR19.2 million in the corresponding period of 2017. As a result,
the total loss amounted to QR38.3 million against a total profit
of QR229.4 million recorded last year. After deducting the share
of unrestricted investment owners of QR30.9 million, the total
loss rose to QR69.1 million, versus a profit of QR184.4 million
in the corresponding period of 2017, and after subtracting the
total expenses of QR267.6 million, the result is a net loss that
has multiplied to QR366.2 million.
|