CBQ misses estimates as Q2 profit slumps 62.9%

20/07/2016 05:37 AST

Commercial Bank of Qatar (CBQ), the Gulf Arab state’s third-largest lender by assets, posted a 62.9 per cent slump in second-quarter net attributable profit on Tuesday, missing analysts’ forecasts.

The bank earned a net profit attributable to equity holders of 212.3 million riyals ($58.3 million; Dh214.02 million) in the three months to June 30, it said in a statement.

That compares with a profit of 572.3 million riyals in the same period a year earlier.

CBQ posted a 64.7 per cent drop in net profit for the period, falling to 208.2 million riyals, from 589.1 million riyals in the three months to June 30, 2015.


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