The year so far has been one to forget for most of the region’s banks. But Qatari lenders have managed to emerge from the quarter in positive territory, thanks to continuing economic growth and plenty of government help.
While profits this year at most banks sagged as bad loans soared and deposit growth slowed during the global financial crisis, Qatari banks had a relatively prosperous time.
Combined profits at publicly listed Qatari banks for the three months to June came to about 2.5 billion rials (Dh2.52bn), up by almost 1 per cent on a year earlier.
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