Commercial Bank Of Qatar Q1 Net Profit Rises 8%

Commercial Bank of Qatar, the Gulf Arab state’s second-largest lender by assets, posted an eight per cent increase in first-quarter profit on Tuesday, beating estimates.

The bank earned a net profit of 548 million riyals ($150.5 million) for the opening three months of 2014, compared with 506 million riyals in the same period last year, it said in a statement.

Analysts had forecast an average quarterly profit of 468.5 million riyals, according to a Reuters poll.