April 18, 2017 / 5:37 AM / 5 months ago

Qatar's CBQ Q1 net profit down 66.7 pct

DUBAI, April 18 (Reuters) - Commercial Bank of Qatar (CBQ), the Gulf Arab state’s third-largest lender by assets, reported a 66.7 percent drop in first-quarter net profit on Tuesday, as bad debt charges rose sharply.

The bank earned a net profit of 91.2 million riyals ($25.1 million) in the three months to March 31, it said in a statement. That compares with a profit of 274.2 million riyals in the same period a year earlier.

$1 = 3.6410 Qatar riyals Reporting By Tom Arnold

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