Monday, 19 August 2019 07:43 GMT

Qatari Commercial Bank jumps 6.4 percent in net income

(MENAFN) Qatar's Commercial Bank marked a 6.4 percent boost in its net income for subsidiaries and associates from January to March 2019.

Meanwhile, the Qatari bank recorded a 2.1 percent jump in its operating income while its cost to income ratio witnessed a decline to stand at 30.9 percent compared to the previous 33.9 percent.

"In 2018 Qatar's GDP increased by 2.4 percent and the IMF forecasts a growth of 3.1 percnet for 2019," stated the bank's Chairman of the Board of Directors Sheikh Abdulla bin Ali bin Jabor Al Thani.

According to the chief, "the country's leadership has prioritised economic transformation and continues to invest heavily in strengthening Qatar's knowledge-based economy to secure the nation's long-term financial future."

"Markets have responded positively to this, and in the first quarter of 2019, Qatar successfully raised $12bn from the bond markets, a clear indication of the confidence that international investors have in the Qatari economy," Al Thani added.


Qatari Commercial Bank jumps 6.4 percent in net income


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