QNB posts H1 net profit of $1.8bln – ZAWYA

QNB posts H1 net profit of $1.8bln – ZAWYA

QNB posts H1 net profit of $1.8bln | ZAWYA MENA Edition HomeMarketsEquitiesArticleQNB posts H1 net profit of $1.8bln Down 13% from a year earlier    DUBAI- Qatar National Bank's second-quarter profit fell after it booked sharply higher loan loss provisions due to the global economic conditions, the Gulf's biggest lender said on Sunday.Fitch Ratings said last month that it expects Qatar's non-hydrocarbon sector to contract by 5% this year and gross domestic product to shrink 3.8%.QNB posted 2.84 billion riyals ($779.90 million) in net profit in the second quarter, down from 3.83 billion riyals a year earlier.Fitch Ratings said last month that it expects Qatar's non-hydrocarbon sector to contract by 5% this year and gross domestic product to shrink 3.8%.DUBAI- Qatar National Bank's second-quarter profit fell after it booked sharply higher loan loss provisions due to the global economic conditions, the Gulf's biggest lender said on Sunday.QNB posted 2.84 billion riyals ($779.90 million) in net profit in the second quarter, down from 3.83 billion riyals a year earlier.The second-quarter figure was lower than EFG Hermes' forecast of 3.316 billion riyals for QNB, which operates in more than 31 countries, including large operations in Turkey and Egypt.The bank increased its loan