QNB’s Q2 profit falls after loan provisions more than double – ZAWYA

QNB’s Q2 profit falls after loan provisions more than double – ZAWYA

QNB's Q2 profit falls after loan provisions more than double | ZAWYA MENA Edition HomeMarketsEquitiesArticleQNB's Q2 profit falls after loan provisions more than double QNB posted $779.90 million in net profit in the second quarter    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 expected 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 expected 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