(MENAFN) According to a report recently published by Kamco Invest, the total earnings for Qatari-listed corporations increased by 1.7 percent during the third quarter (Q3) of this year year over year (y-o-y) to reach USD3.32 billion as opposed to USD3.27 billion in Q3 in the last year.
In Q3-2022, Qatar's banking industry reported a profit growth of 4.8 percent, reaching USD1.9 billion and accounting for 56.9 percent of the quarter's total exchange profits.
During the quarter, QNB reported a net profit increase of 13.1 percent, reaching USD1.1bn, up from a net profit of USD951.9m in Q3-2021. Higher net interest income and non-interest income were the main factors in the increase in profits, which were only partially offset by a rise in provisions during the quarter.
In comparison to the same period last year, Qatar Islamic Bank reported a net profit of USD281 million for the third quarter of the current year. During the quarter, income from financing and investing activities increased year over year by 7.6 percent to USD523.3 million, up from USD490.9 million for the same period last year.
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