DUBAI, July 14 (Reuters) - Commercial Bank of Qatar , the Gulf Arab state’s second-largest lender by assets, posted a 17.3 percent rise in second-quarter profit on Tuesday, beating analysts’ forecasts.
The bank earned a net profit of 589 million riyals ($161.8 million) for the three months to June 30, it said in a statement.
The bank did not provide a net profit figure for the same period of last year. It reported earnings of 489.8 million riyals in the year-earlier period, according to Thomson Reuters data, although this would not equate to the percentage increase given by CBQ in Tuesday’s statement.
Seven analysts had forecast an average quarterly profit of 495.2 million riyals, according to a Reuters poll.
$1 = 3.6413 Qatar riyals Reporting by Tom Arnold; Editing by David French