QNB left behind despite annual profit surge
- Qatar: Monday, January 14 - 2013 at 16:16
The Qatar Exchange 20 Index slipped half a percentage point to close at 8,639.69 points Monday. Qatar National Bank or QNB dived 2.61% to QR134.40. Yesterday, QNB reported a net profit increase of 11.1% for the year 2012, amounting to QR8.3bn. QNB proposed cash dividends of 60% of the nominal value of its share. Qatar Islamic Bank bucked the trend, gained 1.17% to hit QR77.50. Doha Bank dipped 0.19% to QR53.30. Earlier in the day, Doha Bank said its board of directors decided to recommend shareholders a 50% capital increase in two phases. In a First Phase, there shall be an increase of 25% of the current paid-up share capital through the issuing of new shares to the bank's existing shareholders who are registered at QE, at the close of business Feb.19 2013, at a premium of QR20 in addition to a nominal value of QR10 per share. In a Second phase, an increase of up to 25% of the current paid-up share capital would occur through the issuing of new shares, in the form of Global Depositary Receipts (GDRs), to be held by a depository bank.
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