Qatar – Mubasher: NBK Capital assigned a “Hold” recommendation to Doha Bank stock, setting its fair value at QAR55.30.

The corporate’s preliminary results matched NBK capital’s expectations, showing that Q3 profits declined 2% annually to stand at QAR 341 million.

According to the report, total operating income also dipped 2% year-on-year but was 2% higher quarter-on-quarter.

During the first nine months of 2015, the bank’s profits rose by 0.66% to QAR1,142 million from QAR1,134.4 million for the same period a year earlier.  

Profits for the third quarter of 2015 reached QAR341 million, compared to QAR 347.4 million for the same quarter a year before.