Mubasher: Chief executive officer of Qatar National Bank (QNB) Ali al-Kuwari forecasts that the lender’s profit will jump 5% to 7% in 2018.
Net profits of the Middle East’s biggest bank by assets increased 6.2% to QAR 13.1 billion in 2017 versus QAR 12.3 billion the previous year.
Al Kuwari said that the bank is working on diversifying its earnings through targeting fresh markets in Southeast Asia, in addition to focusing on the main markets in Qatar, Turkey and Egypt.
The bank’s annual net income went up 6% during 2017, meeting analysts’ expectations, Al Kuwari told Bloomberg.
"Some business people who were thinking of investing somewhere else are bringing their investment to Qatar,” Al Kuwari noted. “We see many opportunities in food supply, logistics and transport," he added.
