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Commercial Bank of Qatar Q2 Net Profit Dips 3%

Commercial Bank of Qatar Q2 Net Profit Dips 3%

The bank earned a net QAR502.6 million ($138.1 million) in the three months to June 30.

Commercial Bank of Qatar (CBQ), the Gulf Arab state’s second-largest lender by assets, suffered a three per cent decline in second-quarter net profit, Reuters calculations based on half-year figures from the bank showed on Wednesday.

The bank earned a net QAR502.6 million ($138.1 million) in the three months to June 30, compared with 518.2 million in the same period last year, Reuters calculated. Analysts had on average forecast a quarterly profit of 512.8 million, according to a Reuters poll.

CBQ said in a bourse filing it had made a net QAR1.05 billion in the first six months of 2014, up three per cent on the same period last year. It gave no quarterly breakdown so Reuters calculated the figure using financial statements.

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