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Al kahliji Q1 profit jumps 32%

Al kahliji Q1 profit jumps 32%
Photo Credit: Arabianeye-Reuters
Al Khaliji
KCBK
0.95% 2.24 0.02

 

Al Khalij Commercial Bank reported a jump in net profit by 32% to QAR 144.4 million during the first quarter of 2015, compared to QAR 109.2 million during the same period of 2014, according to a filing to Qatar Stock Exchange.

The profit increase is attributed to growth of loans and advances, wider margins and firm control of costs, al khaliji group’s CEO Fahad Al Khalifa said.

Al khaliji’s earnings per share (EPS) reached QAR 0.4 in Q1-15, the statement highlighted, adding that total assets advanced 21% to QAR 53 billion year-on-year  (y-o-y). 

Financials showed a growth in Al Khaliji France’s Q1-15 net profit to QAR 21.1 million y-o-y, representing 15% of the group’s net profit.