QNB Q3 net profit up 10.2%

DUBAI: Qatar National Bank (QNB), the Gulf’s largest lender, reported a 10.2 per cent increase in third-quarter net profit, according to Reuters calculations, broadly in line with analysts’ forecasts. The bank reported a net profit of 3.45 billion riyals ($947.5 million, Dh3.5 billion) in the three months to September 30, compared with 3.13 billion riyals in the corresponding period of 2015, Reuters calculations showed, using financial statements in lieu of a quarterly earnings breakdown. Three analysts polled by Reuters had on average forecast QNB would make a quarterly net profit of 3.26 billion riyals.