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CBQ posts 32.9% drop in Q4 net income

: Tuesday, February 11 - 2014 @ 06:34

Commercial Bank of Qatar (CBQ), the Gulf country’s second-largest lender by assets, has posted a 32.9% fall in fourth-quarter net profit, as provisioning for bad loans rose substantially, Reuters has reported. The bank made a net profit of QR300m ($82.4m) for the last three months of 2013, compared with QR447.3m a year earlier. Full-year profit for 2013 dropped 20.2% to QR1.61bn. Provisioning in the quarter more than doubled to QR346m from QR136m, CBQ said.

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Tuesday, February 11- 2014 @ 6:34 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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