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Qatar National Bank Q3 profit rises, but impairments spike YOY

Qatar National Bank (QPSC) reported third-quarter profit attributable to equity holders of the bank of 3.72 billion Qatari riyals, compared to 3.60 billion riyals in the year-ago period.

EPS for the period was 3.9 riyals, compared to 3.8 riyals a year ago.

Net interest income rose to 4.72 billion riyals from 4.63 billion riyals in the third quarter of 2017, while net fees and commission income was down on a yearly basis to 839.2 million riyals from 935.1 million riyals. Operating income totaled 5.98 billion riyals in the third quarter, compared to 5.84 billion riyals in the same period a year earlier.

Net impairment losses on loans and advances to customers widened year over year to 684.0 million riyals from 338.6 million riyals.

As of Sept. 30, Qatar National Bank's total capital ratio stood at 15.6%, compared to 15.4% a year earlier.

As of Oct. 9, US$1 was equivalent to 3.64 Qatari riyals.