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Qatar's half-year report shows 362% net loss in first half Ongoing According to the bank, the bank's net loss at the end of June was 353.8 million riyals ($ 97 million).
This comes from the fact that the banking sector in Qatar continues to be affected by the consequences of the Arab boycott and the Doha Gulf, which has led to the exit of deposits and credit facilities.
Saudi Arabia, the United Arab Emirates, Bahrain and Egypt last June cut off diplomatic ties and transport links with Qatar because of Doha's support for terrorism.
The net losses of the bank amounted to 76.6 million riyals ($ 21 million) during the first half of last year. The results reveal the reasons for the bank's departure from two Turkish companies earlier this week.
Qatar First Bank stated earlier that it had executed two releases of English Home and Memoyal in Turkey for majority shareholder Turgut Aydin and his family.
Qatar Bank 's share affected by the effects of the Doha Arab Quartet, in English Home, is about 40%, while its share in Memorial Health is about 20%.
The bank's statement indicated that the loss per share was 1.77 QR in the first half of the year, compared to 0.38 QR for the corresponding period of 2017.
We thank the visitors of Medan News for their confidence and their presence. All news and important from all sources of reliable news, 362% of the losses have been transferred to Qatar First Bank, and the source is responsible for the news.
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