Qatar National Bank's net profit was 2.75 billion riyals ($755 million) in the three months to Dec. 31, compared with 2.54 billion riyals in the corresponding period of 2015. (Reuters)
Qatar National Bank fourth quarter net profit up 8.3 pct to $755 mln
For 2016 as a whole, QNB, now the largest bank in the Middle East and Africa by assets, reported a net profit of 12.4 billion riyals, up 10 percent from 2015
Qatar National Bank (QNB), the Gulf's largest lender, reported a 8.3 percent increase in fourth-quarter net profit, according to Reuters calculations on Sunday.
The bank's net profit was 2.75 billion riyals ($755 million) in the three months to Dec. 31, compared with 2.54 billion riyals in the corresponding period of 2015, Reuters calculations showed, using financial statements in lieu of a quarterly earnings breakdown.
EFG Hermes forecast the bank would make a net profit of 2.99 billion riyals during the quarter, while SICO Bahrain forecast a quarterly net profit of 3.44 billion riyals.
For 2016 as a whole, QNB, now the largest bank in the Middle East and Africa by assets, reported a net profit of 12.4 billion riyals, up 10 percent from 2015, according to a statement.
QNB's board proposed a cash dividend for 2016 of 3.5 riyals per share and a bonus share dividend which would award one free share for every 10 shares currently owned.
In 2015, it awarded a cash dividend of 3.5 riyals per share and a bonus share dividend of two free shares for every 10 shares held.
