Mubasher: Qatar First Bank (QFB) on Wednesday reported a 56.53% year-on-year loss drop in the fourth quarter of 2018.
The Qatari lender’s losses amounted to QAR 56.36 million ($15.57 million) in the three-month period ended last December, compared to QAR 129.66 million ($35.81 million) in the prior-year period, according to QFB’s statement to the Qatar Stock Exchange (QSE).
For the full-year 2018, the Qatari bank’s losses soared 78.97% to QAR 481.9 million from QAR 269.26 million in the previous year.
Losses per share (LPS) reached QAR 2.41 in the fiscal year ended 31 December 2018, compared to QAR 1.35 in the year-ago period.
The Qatari lender’s board of directors recommended not distributing cash dividends for 2018.
During the first nine months of 2018, QFB’s losses jumped 204.8% to QAR 425.54 million from QAR 139.6 million in the corresponding period a year earlier.
QFB’s stock fell 0.25% to close at QAR 4.01 on Wednesday.
