Mubasher: The Commercial Bank of Qatar (CBQ) recorded a 16% year-on-year profit increase during the fourth quarter of 2018.
The Qatari lender’s profits amounted to QAR 400 million ($110.91 million) in Q4-18, compared to QAR 344.74 million ($95.59 million) in Q4-17, according to the bank’s statement to the Qatar Stock Exchange (QSE).
CBQ posted a 175% profit hike during the full-year 2018, registering QAR 1.66 billion from QAR 603.64 million in 2017.
Meanwhile, earnings per share (EPS) recorded QAR 3.52 in 2018, against QAR 0.91 for the same period a year earlier.
CBQ’s board of directors recommended distributing a cash dividend of 15% of the share’s nominal value, or QAR 1.5 a share.
During the first nine months of 2018, CBQ’s profits rose 386.4% to QAR 1.26 billion, against QAR 258.9 million in the corresponding period in 2017.
