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Sovereign Wealth Funds Briefing - Categorized | Financials, Performance

Qatar Natl Bank posts 29pct jump in Q2 profit

Posted on 08 July 2011

Qatar National Bank , the Gulf Arab state’s largest lender, posted a 29-percent jump in quarterly profit on Wednesday buoyed by increased lending and customer deposits. QNB is 50-percent owned by sovereign wealth fund Qatar Investment Authority.
The bank had second-quarter net profit of 1.8 billion riyals ($494.3 million), according to Reuters calculations, compared to 1.4 billion riyals in the same period last year……………………………………….Full Article: Source


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