QNB, Commercial Bank brokerages more than double share trade turnover in January-April

QNB, Commercial Bank brokerages more than double share trade turnover in January-April

The brokerage subsidiaries of QNB and Commercial Bank witnessed more than doubling of its share trade turnover year-on-year during the first four months of this year, according to Qatar Stock Exchange data.

The Group Securities, QNB Financial Services and CBQIS together accounted for more than 80% of the share trade turnover of the brokerages on the QSE during the review period.

The Group Securities’ share stood at 40.44% in January-April 2022 compared to 45.65% the previous-year period. Its trading turnover surged 38.27% year-on-year to QR53.18bn. The transactions through it expanded 20.89% to 1.06mn even as volumes shrank 5.97% to 23.14mn equities at the end of April 30.

QNB subsidiary QNBFS' trade turnover amounted to QR37.24bn, which constituted 28.31% of the total traded value during January-April against 21.59% in the year-ago period. The turnover more than doubled year-on-year as volumes zoomed 28.98% to 5.43mn stocks on more-than- doubled transactions to 934,920 in the review period.

CBQIS, the stock broking arm of Commercial Bank, accounted for 11.88% of trade turnover compared to 9.11% during January-March 2021. The brokerage house's trade turnover more than doubled year-on-year to QR15.63bn as volumes shot up 77.29% to 3.67mn shares and deals by 63.98% to 325,599 in the review period.

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