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Tuesday, 11 April 2017

UPDATE 1-Strong loan growth lifts profit at Qatar National Bank | Reuters

UPDATE 1-Strong loan growth lifts profit at Qatar National Bank | Reuters:

"Qatar National Bank (QNB) reported a 12 percent rise in first-quarter net profit on Tuesday, fuelled by double-digit loan growth after its takeover of Turkey's Finansbank. The 2.7 billion euro ($2.86 billion) acquisition completed in June helped to secure QNB's position as the largest lender in the Middle East and Africa by assets, but it also exposed the bank to soured loans in Turkey after the economy wobbled in the wake of last year's failed coup. As a result, QNB reported a hefty jump in bad loans to 398.93 billion riyals ($109.6 billion) in the quarter, up from 20.12 billion riyals a year earlier and lifting its non-performing loans ratio to 1.8 percent from 1.4 percent."



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