Qatar's Commercial Bank Q3 profit leaps on lower bad loan losses | Reuters

Qatar's Commercial Bank Q3 profit leaps on lower bad loan losses | Reuters:

Commercial Bank of Qatar (CBQ), the Gulf Arab state’s third-largest lender by assets, reported a jump in third-quarter net profit as losses on bad loans fell.

The bank earned a net profit of 404.6 million riyals ($111.2 million) in the three months to Sept. 30, it said in a statement on Wednesday. That compares with a profit of 79.4 million riyals in the same period a year earlier.

EFG Hermes forecast the bank would post a profit of 419.7 million riyals, while SICO Bahrain forecast a profit of 426.2 million riyals.