Qatar Islamic Bank misses Q3 forecasts as profit drops 12.4 pct | Reuters

Qatar Islamic Bank misses Q3 forecasts as profit drops 12.4 pct | Reuters:

"Qatar Islamic Bank (QIB), the Gulf state's fourth-largest lender by market value, reported a 12.4 percent drop in third-quarter net profit on Sunday, missing analysts' average forecast.

The bank made a net profit of 345.1 million riyals ($94.8 million) in the three months to Sept. 30, compared with 393.9 million riyals in the same period a year ago, it said in a bourse statement.

QIB posted a nine-month net profit of 975.1 million riyals, compared with 1.1 billion riyals for the same period last year.

The third-quarter results missed the average forecast of eight analysts in a Reuters poll who had expected the bank to post a quarterly net profit of 360 million riyals."

'via Blog this'