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Qatar National Bank Q4 profits fall

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Wednesday, 14 January 2009
RIYAL fall: Qatar National Bank has announced a small drop in fourth quarter profit compared to the year earlier. (Getty Images)
RIYAL fall: Qatar National Bank has announced a small drop in fourth quarter profit compared to the year earlier. (Getty Images)

Qatar National Bank, the country's biggest lender by market value, posted a fourth-quarter net profit of 653 million riyals ($179.5 million), down 0.8 percent from a year earlier.

Annual net profit rose to 3.65 billion riyals in 2008, an increase of about 45 percent, the bank said in a statement. It had earned 2.51 billion riyals in 2007.

The statement did not give fourth-quarter results, which Reuters calculated from earlier result figures.

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Three analysts had forecast, on average, fourth-quarter profit of 836.26 million riyals, according to a Reuters poll in December.

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