Qatar National Bank Profit Jumps 36%, Beats Estimates

Qatar National Bank SAQ, the Persian Gulf country's biggest lender by assets, posted a 36 percent rise in second-quarter profit, beating analysts' forecasts.

Net income for the quarter ended June 30 advanced to 1.44 billion riyals ($395 million), or 3.7 riyals a share, from 1.06 billion riyals, or 2.7 riyals, the bank said in an e-mailed statement today. The average estimate of six analysts was for a profit of 1.31 billion riyals, according to Bloomberg data.

The results reflect the implementation of several business objectives, including international expansion plans and an "effective risk management framework that was vital in avoiding the negative consequences of the international financial crisis," Shareef Al Emadi, Qatar National's group chief executive officer, said in