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FinancialNews


  • 05-02-19

    Qatar's Commercial Bank jumps 175.5 percent in 2018 net income

    (MENAFN) Qatar's Commercial Bank was announced to have recorded a 175.5 percent surge in its net profit alongside its subsidiaries and associates by the end of 2018 on an annual basis.

    The Qatari major bank further registered a 5.9 percent jump in its operating income, confirmed its board of directors chairman Sheikh Abdulla bin Ali bin Jabor Al Thani.

    According to the chairman, "Qatar's economy is developing as the state pushes forward with reforms designed to strengthen the country's economic future."

    The chair noted that "in 2018, Qatar's private sector grew by almost 6 percent, a clear indication that the right initiatives have been put in place to promote sustainable economic growth. This positive momentum is set to continue in 2019, with the IMF forecasting 4 percent growth for the non-oil sector."

    Al Thani added that the bank is aiming to contribute in the economic revamp Qatar has set through taking part in large initiative that will boost and reinforce the economy.

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