Mubasher: Qatar National Bank (QNB) on Tuesday reported a 3.8% year-on-year increase in net profit for the first quarter of 2019.

Net profits of the largest bank in the Middle East and Africa amounted to QAR 3.56 billion ($986.46 million) in the first three months of 2019, compared to QAR 3.43 billion ($950.43 million) in the year-ago period, according to a statement to the Qatar Stock Exchange (QSE).

Earnings per share (EPS) registered QAR 3.6 for the fiscal period ended 31 March, the same value in the corresponding period in 2018.

For the full-year 2018, the Qatari lender’s profits rose 5% year-on-year, logging QAR 13.8 billion, compared to QAR 13.1 billion.

In February, QNB’s ordinary general meeting (OGM) approved distributing QAR 6 per share, or 60% of the share’s nominal value, with a total value of SAR 5.54 billion as cash dividends for 2018.

In addition, the Qatari bank’s extraordinary general meeting (EGM) approved splitting the share’s nominal value to be QAR 1 a share instead of QAR 10.