Doha Bank Q4 Net Profit Rises 6.1%, Misses Forecasts

Doha Bank, Qatar’s fifth-largest lender by assets, reported a 6.1 per cent increase in fourth-quarter net profit on Tuesday, according to Reuters calculations, missing analyst expectations.

The lender made a net profit of QAR250 million ($68.7 million) during the period, compared with QAR235.6 million in the same period a year ago. Doha Bank didn’t provide a quarterly breakdown so Reuters calculated the figure based on financial statements

Five analysts, on average, forecast a net profit of QAR307.7 million for the period in a Reuters poll.

Net profit for 2014 gained 3.1 per cent year on year to QAR1.35 million, the statement said.