Doha – Mubasher: Qatar National Bank (QNB) said Sun day that it has kept its price target (PT) for Doha Bank at QAR 42, with an 'Accumulate’ recommendation.
Doha Bank’s profits for the third quarter of fiscal 2016 reached QAR 310.6 million, below QNB’s expectations of our expectations QAR 350.4 million and consensus expectations of QAR 359 million.
In its report, QNB attributed the fall to a spike in provisions and impairments.
However, Doha Bank’s net operating amounted to QR 414.6 million, in-line with QNB estimations of QAR 416.9 million.
By 12:30pm Doha time, Doha Bank’s stock grew by 0.4% to QAR 37.30.
