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Wed 15 Jul 2009 04:33 PM

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Qatar Commercial Bank Q2 profits down 45%

The company posted a net profit of $91.59m in the first half of the year.

Qatar Commercial Bank posted a second-quarter net profit of QR333.2m ($91.59m), down 45 percent from the year-earlier period.

The company made a net profit of QR943.3m in the first half of the year, compared with QR1bn a year earlier, the firm said in a statement on Wednesday, without offering a breakdown of quarterly data.

Analysts had forecast an average second-quarter net profit of QR495.09m. The bank last year reported a net profit of QR602.74m in the second quarter.

Reuters calculated the quarterly profit based on previous financial statements. (Reuters)

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