#Qatar National Bank's net profit rises 12.3% in second quarter | Reuters

Qatar National Bank's net profit rises 12.3% in second quarter | Reuters

Qatar National Bank (QNB) (QNBK.QA), the Gulf's largest lender by assets, said on Thursday that its second-quarter profit rose 12.3% on an annual basis as a result of higher income from interest as well as from fees.

QNB reported net profit of 3.89 billion Qatari riyals ($1.1 billion) in the three months to June 30, up from 3.464 billion riyals in the second quarter of 2021, beating a median analyst estimate of 3.546 billion riyals, Refinitiv data showed.

Net interest income in the second quarter rose 23.5% to 7.004 billion riyals from 5.672 billion riyals a year earlier, QNB said in a statement, while net fees and commission income rose 12.6% to 907.7 million riyals.

For the half-year, QNB posted 7 billion riyals in net profit, it said, up 4% from the same period a year earlier. QNB said "before the impact of hyperinflation" net profit for the period was 7.9 billion riyals.