Commercial Bank Net Profit Rose to QR1.25 Billion in Q3 2018

October 24, 2018

Commercial Bank net profit amounted to QR1.25 billion, compared to QR258.98 million for the same period last year, while the bank’s earnings per share reached QR3.11, versus QR0.65 for the corresponding period of 2017.

The Group’s Comments:

Commercial Bank's net operating income stood at QR2.66 billion, of which QR1.9 billion was generated from interest, while its expenses fell by 41.4% to QR1.4 billion. As a result, the net profit for this period increased by 386% to QR1.25 billion. It should be noted that there was a significant loss in the fair value, reducing the comprehensive income to QR165.5 million, compared to QR451.7 million recorded in the corresponding period of 2017.