Al Khaliji Net Profit Rose to QR469.40 Million in Q3 2018

October 24, 2018

Al Khalij Commercial Bank (Al Khaliji) net profit amounted to QR469.40 million in the first nine months of 2018, compared to QR453.56 million for the same period last year, while its earnings per share reached QR1.3, versus QR1.26 for the corresponding period of 2017.

The Group’s Comments:

Al Khaliji’s net operating income dropped by 4.8% to QR886.9 million in the first nine months, of which QR696.8 million were generated from interest, while the bank’s total expenses fell by 14.7% to QR405.6 million. As a result, the net profit increased by 3.5% to QR469.4 million and comprehensive income climbed to QR530.9 million due to a positive change in the fair value of about QR61.5 million.