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FINANCIAL NEWS
Qatar’s banking sector profit plunged in 2012
22 Sep 2013
(MENAFN) Qatar Central Bank (QCB) said that net profit growth in Qatar’s banking sector went down last year despite a higher expansion in gross income of banks, The Peninsula reported.
Net profit for banks plunged down to 6.6 percent last year from 22.3 in 2011. Commission and other miscellaneous sources’ income decreased for Islamic and conventional banks alike last year.
The QCB said that a drop in return on advances and cost of deposits happened due to the lowest interest environment.
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