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Sun 12 Oct 2014 03:36 PM

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Qatar National Bank Q3 net profit jumps 21%

The largest lender in the Gulf region, its results are viewed as a gauge for the health of Qatar's wider banking sector

Qatar National Bank Q3 net profit jumps 21%

Qatar National Bank
(QNB), the largest lender in the Gulf region, reported a 20.8 percent jump in
third-quarter net profit on Sunday, Reuters calculated, beating analyst
forecasts.

The bank, whose results are viewed as a gauge for
the health of Qatar's wider banking sector, reported a net profit of QAR2.9
billion ($796.4 million) for the three months to September 30, compared
with QAR2.4 billion in the corresponding period of last year, according to
Reuters calculations based on financial statements.

Six analysts polled by Reuters on average forecast
QNB would make a quarterly net profit of QAR2.57 billion.

In a statement, the bank said its net profit for
the first nine months of 2014 was QAR8 billion, up from 7.1 billion riyals
in the same period last year.

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