Tuesday, 15 January 2019

QNB lifts quarterly profit on lending growth as #Qatar weathers blockade | Reuters

QNB lifts quarterly profit on lending growth as Qatar weathers blockade | Reuters:

Qatar National Bank (QNB) reported an increase in fourth-quarter net profit on Tuesday, benefiting from strong lending growth as Qatar has pushed ahead with spending on the 2022 soccer World Cup and other infrastructure.

The largest bank by assets in the Middle East and Africa reported a net profit of 3 billion riyals ($800 million) in the three months to the end of the year, compared with 2.88 billion riyals in the same period in 2017, Reuters calculated.

An average of three analysts forecast QNB would post a net profit of 3.23 billion riyals, Refinitiv data showed.

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