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Tuesday, 19 July 2016

UPDATE 1-Qatari bank CBQ misses estimates with profit drop | Reuters

UPDATE 1-Qatari bank CBQ misses estimates with profit drop | Reuters:

"Commercial Bank of Qatar (CBQ) posted a 62.9 percent slump in its second-quarter net attributable profit on Tuesday, missing analysts' forecasts as rising impairments on bad loans and weaker results at its overseas subsidiaries weighed heavily.

The result contrasts with those of the three other large Qatari lenders, which all reported rising profits for the quarter, even as the local economy slows and challenges emerge in the domestic construction sector.

The Gulf Arab state's third-largest lender by assets earned a net profit attributable to equity holders of 212.3 million riyals ($58.3 million) in the three months to June 30, it said in a statement."



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