Qatar's Commercial Bank reports Q4 profit jump, beating two forecasts

Qatar's Commercial Bank reports Q4 profit jump, beating two forecasts:

"Commercial Bank, Qatar’s third-largest lender by assets, reported a large increase in fourth-quarter net profit on Monday, according to Reuters’ calculations, beating two analysts’ forecasts.

The bank earned a net profit of 345 million riyals ($94.8 million) in the three months to Dec. 31, Reuters calculated based on annual financial statements in the absence of a quarterly breakdown. That compares with a profit of 1.4 million riyals in the same period a year earlier.

SICO Bahrain had forecast the bank would make a quarterly profit of 101.3 million riyals, while QNB Financial Services had estimated a quarterly profit of 160.2 million riyals."



'via Blog this'