Wednesday 11 July 2012

UPDATE 1-Qatar Islamic Q2 net profit dips 8.7 pct | Reuters

Qatar Islamic Bank (QIB) , the Gulf state's second-largest lender by market value, posted an 8.7 percent drop in second-quarter net profit on Wednesday, Reuters calculations show, missing analysts' expectations.

The bank made a net profit of 348.9 million riyals ($95.8 million) for the quarter, according to Reuters calculations, falling short of the 382 million riyals it recorded a year earlier and below analysts' average forecast of 397.8 million riyals.

It made a first-half net profit of 736.9 million riyals, a five percent increase from the year-earlier period, the lender in a statement. QIB did not provide quarterly numbers in the statement.

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