The profits of Qatar National Bank QNB group decreased by 13% year on year to reach 6.4 billion riyals by the end of the first half of this year.
According to CNBC Arabia, the group restated the reasons for the decrease in the semi-annual profits to continuing the conservative policy to build additional reserves for potential loan losses by registering allocations of 1.2 billion riyals as a measure Preventative to protect the group from the negative impacts on the loan portfolio due to the economic impact of the Corona pandemic.
The profits of the group declined by the end of the second quarter of this year by 23% year-on-year to 2.9 billion riyals, while the return on the stock at the end of last June was 0.64 riyals.
(Fun Knowledge of Knowledge)
