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Commercial Bank of Qatar dips slightly, reports higher annual net profit
- Qatar: Thursday, January 26 - 2012 at 15:41
The Qatar Exchange gained 0.20% Thursday to reach 8,434.70 points. The country's second bank by assets Commercial Bank of Qatar or CBQ fell 1.50% to QR80.40. CBQ said it achieved a net profit of QR1.88bn in 2011, compared to QR1.63bn in 2010. Earnings per Share (EPS) amounted to QR7.71 compared to QR7.24 in 2010. The bank recommended a profit distribution in the form of 6QR per share cash dividend. HE, Abdullah Bin Khalifa Al Attiyah, Chairman of the Board of Directors of CBQ commented: "The year 2011 proved to be yet another unsettling year for financial markets. Middle Eastern markets were unsettled in the first half of the year and the ongoing sovereign debt crisis in Europe has undermined the potential for global recovery. Despite this, Qatar's economy has remained resilient and has demonstrated significant progress and growth during 2011, and CBQ has successfully identified market opportunities to grow its business and has delivered a record set of results for the full year."
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Gérard Al-Fil, Financial JournalistThursday, January 26 - 2012 at 15:41 UAE local time (GMT+4)
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