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FINANCIAL NEWS
Qatar’s crisis to influence business
21 Jun 2017
(MENAFN) Qatar National Bank (QNB) predicts to meet its earnings goals as the ongoing Saudi-led campaign will isolate the gas-rich Arab states has minimal impact on its ops.
Moreover, the country is confident it will reach its revenue growth target of 6 percent to 8 percent in the second quarter, the same guidance given to investors in March.
Meanwhile, Qatari lenders are coming under stress after KSA, Bahrain, Egypt and the UAE cut diplomatic ties and closed transport routes.
However, QNB shares have dropped 13 percent since the standoff started on June 5, more than the 10 percent fall for Qatar’s main stock gauge.
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MENAFN2106201700450000ID1095571131
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