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Qatar National Bank Q3 net profit up 10.2 pct - Reuters calculations
October 10, 2016 / 10:47 AM / a year ago

Qatar National Bank Q3 net profit up 10.2 pct - Reuters calculations

DUBAI, Oct 10 (Reuters) - Qatar National Bank (QNB), the Gulf’s largest lender, reported a 10.2 percent increase in third-quarter net profit, according to Reuters calculations, broadly in line with analysts’ forecasts.

The bank reported a net profit of 3.45 billion riyals ($947.5 million) in the three months to Sept. 30, compared with 3.13 billion riyals in the corresponding period of 2015, Reuters calculations showed, using financial statements in lieu of a quarterly earnings breakdown.

Three analysts polled by Reuters had on average forecast QNB would make a quarterly net profit of 3.26 billion riyals.

QNB, now the largest bank in the Middle East and Africa by assets, posted a net profit of 9.7 billion riyals in the first nine months of 2016, 11 percent higher than during the same period a year earlier, according to a statement. ($1 = 3.6412 Qatar riyals) (Reporting by Tom Arnold; Editing by David French)

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