QNB posts 11% increase in full-year net income
- Qatar: Monday, January 14 - 2013 at 04:20
Qatar National Bank (QNB) has said its fourth-quarter net profits remained flat, compared with the previous year, Reuters has reported. QNB, which agreed to buy a majority stake in the Egyptian arm of Societe Generale in December, posted a net profit of QR2.1bn ($577m) for the fourth-quarter, compared with the same amount a year earlier. Full-year net profit was QR8.3bn, up 11.1% from a year ago. Total assets grew 21.5% to QR367b in 2012, the highest ever achieved, as a result of a 28.9% increase in loans and advances, the lender said.
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