By Daliah Merzaban
Gulf state bank reports $107mn profit; breaches analysts' estimates of 7% rise in profit.
Qatar Islamic Bank reported a 1.8 percent decline in fourth-quarter profit on Sunday to about 390 million riyals ($107.1 million).
Net income for the full year was 1.64 billion riyals, up 31 percent from the year earlier, Qatar Islamic said in a statement on the bourse website, without giving quarterly data, which Reuters calculated based on previous financial statements.
Two analysts in a Reuters survey last month said they expected Qatar Islamic's quarterly profit to rise 7 percent and 44 percent. (Reuters)