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FINANCIAL NEWS
Profits of Qatari banks up 32% in 2011
06 Feb 2012
(MENAFN) Global Investment House, a Kuwaiti investment company, said that in 2011, net profits of Qatar’s local banking sector increased to 32 percent from a year earlier, reported The Peninsula.
The company added that in the period, total assets surged by 35, reaching USD82.99 billion, on the other hand, operational revenue hiked 34 percent.
It also said that net revenues from fees and commission in 2011 jumped 16 percent from the previous year, moreover, foreign currency transactions soared by 44 percent, bringing an extra USD141.5 million.
It is worth noting that during 2011, Qatar’s Islamic banking business grew 37 percent year-on-year.
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