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QNB Net Profit Rises, but Comprehensive
Income Falls 34.4% in First 9 Months of 2018
October 11, 2018
QNB
Group’s net profit amounted to QR10.82 billion, compared to
QR10.25 billion recorded in the same period last year, while the
bank’s earnings per share reached QR11.4, versus QR10.7 for the
same period in 2017.
The Group’s Comments:
The
operating income of Qatar National Bank Group increased by 5.5%
to QR17.9 billion for the first nine months of the current year,
of which QR14.1 billion from interest. Expenditures rose by 8.7%
to QR6.54 billion, of which QR1.66 billion went to losses of
loans and advances to customers, noting that the latter rose by
7.3% compared to the corresponding period of the previous year.
As a result, the net profit attributable to shareholders
increased by 5.6% to QR10.82 billion. The bank faced a
significant increase in its comprehensive income loss that
reached QR4.47 billion due to exchange rate losses. All resulted
in the decline of the comprehensive income by 34.4% to QR6.42
billion.
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