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CBQ shares dive as annual profit retreats

: Monday, February 10 - 2014 @ 13:32

The QE 20 Index climbed 1.02 per cent to 11,305.87 points on Monday, February 10. The country’s second lender Commercial Bank of Qatar (CBQ) dived four per cent to QAR70. Earlier in the day, CBQ said that the financials for 2013 revealed a net profit of QAR1.605 billion in 2013 versus QAR2.012bn in 2012. Profit for the fourth quarter of 2013 was up seven per cent to QAR300 million compared to the third quarter of 2013. Chairman of the board, His Excellency Abdullah bin Khalifa al-Attiyah, says: “2013 was an important year for CBQ as we continue to build a bank that is capable of delivering long‐term value to its shareholders and customers. We invested in our international strategy with the acquisition of ABank in Turkey, which we intend to develop into a market leading Turkish bank.”

Gérard Al-Fil

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Monday, February 10- 2014 @ 13:32 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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