The Commercial Bank (Q.S.C.) Announces Group Financial Results for the Full Year Ended December 31, 2017
January 29, 2018 at 04:34 pm
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The Commercial Bank (Q.S.C.) announced group financial results for the full year ended December 31, 2017. For the year, the group reported a net profit of QAR 604 million as compared to QAR 501 million for the same period in 2016, an increase of 20.4%. Operating profit was QAR 2,204 million, up by 13.5%. Net operating income for the Group decreased by 1.4% to QAR 3,529 million, down from QAR 3,578 million achieved in the same period in 2016. Net interest income for the Group increased by 7.6% to QAR 2,518 million compared to QAR 2,341 million achieved in the same period in 2016, due to an increase in the interest income as a result of higher interest rates as compared to last year.
Commercial Bank PSQC, formerly Commercial Bank QSC, is a Qatar-based financial institution that provided banking solutions. The Bankâs operations are structured into two business segments: the Wholesale banking segment provides s a range of conventional commercial and investment banking services and products to large, medium and small enterprises, including corporate lending, trade finance, syndicated loans, deposits, letter of credit and guarantees, and the Retail Banking segment provides conventional retail banking services and products to retail customers in Qatar, including current and deposit accounts, wealth management, mortgage lending, personal and vehicle loans and credit card and other card services. The Bank operates through a network of nearly 29 full services branches and 152 automated teller machines (ATMs). In addition, the Bank owns and operates Diners Club franchises in Qatar and Oman.
THE COMMERCIAL BANK (P.S.Q.C.) 
