Commercial Bank Qatar Announces QAR 1,458 million Profit

Doha, January 28 (QNA) -The Commercial Bank Q.S.C. ("Commercial Bank" or "the Bank") announced Wednesday its financial results for the year ended 31December 2015. The Bank delivered a net profit of QAR 1,458 million for 2015, a 24.9% decrease in profitability compared to 2014. On a quarterly basis, Commercial Bank generated net profit of QAR 117 million in the fourth quarter 2015, as compared to QAR 387 million in the fourth quarter 2014. The Board of Directors is recommending, for approval at the Annual General Assembly on 16 March 2016, a cash dividend payout of QAR 3 per share. The financial results and profit distribution are subject to the approval of the Qatar Central Bank. HE Sheikh Abdullah bin Ali bin Jabor Al Thani, Chairman of the Board of Directors of Commercial Bank, said, "Despite concerns over the global economy, Qatars economy remains robust, backed by the countrys strong reserves and the governments commitment to planned non hydro-carbon projects. (QNA)