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Wednesday, 25 November 2009 23:31 UAE time

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Qatar National Bank sees 10% rise in profits Q1 2009

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Wednesday, 08 April 2009
PROFITS UP: Qatar National Bank has made healthy profits in the first quarter of the year due to effective risk management. (Getty Images)
PROFITS UP: Qatar National Bank has made healthy profits in the first quarter of the year due to effective risk management. (Getty Images)

Qatar National Bank, the country's largest lender, made a first quarter net profit of QR1.0bn ($275m), 10 percent more than a year ago as the bank said it had effectively managed risk.

Net income in the three months to March 31 compared with QR917.3m in the first quarter of 2008, the company said in a statement on the Doha bourse Web site.

Shares in Qatar National have lost a quarter of their value so far in 2009.


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EFG-Hermes' forecast in a Reuters survey earlier this month was QR920m. (Reuters)

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