By: Eman Ghaly

Mubasher: Qatar First Bank’s (QFB) stock witnessed a massive drop of 2.75% at QAR 4.23 per share, the lowest level ever, pressured by announcing the third-quarter financial results.

By 10:40 am Qatar time, the stock’s turnover amounted to QAR 2.2 million after 509,600 shares were traded through 73 transactions.

On Sunday, QFB reported a 13.9% year-on-year increase in losses, recording a net loss of QAR 71.67 million in Q3-18.

For the first nine months of 2018, losses of the Qatari lender hiked 204.8% to QAR 425.54 million, from QAR 139.6 million in the same period of the prior year.

Translated by: Kholoud Mohamed Hussein