Qatar`s QNB slumps despite pickup in operating income, lending growth . . . . . . . . . . . Qatar National Bank (QNB) fell more than 2% on Wednesday as the largest lender in the Gulf reported upbeat loan growth and operating income, but a negative surprise in loans provisioning. Yesterday, the bank reported net profit of QAR 10.5 billion for the full-year, 10% higher than the twelve months of 2013, as operating income increased to QAR 15.4 billion, besides to an uptick in lending growth by 8.8% reaching QAR 338 million. However, the markets took a negative sign from the earnings as l oan provisioning unexpectedly spiked to QAR 487 million in the fourth quarter of 2014, from only QAR 51 million a quarter ago. On the Qatar STOCK EXCHANGE, shares of the QNB fell as low as QAR200.00, down 2.68% from the opening level of QAR204.00. #egyptyard
Posted on: Wed, 14 Jan 2015 16:09:04 +0000