April 10, 2018 / 10:59 AM / 9 days ago

Qatar National Bank says Q1 net profit up 7 pct

DUBAI, April 10 (Reuters) - Qatar National Bank (QNB) reported a 7 percent increase in first-quarter net profit, , the Gulf’s largest lender said in a statement on Tuesday.

Net profit rose to 3.4 billion riyals ($933.9 million) for the three months to March 31.

QNB reported a net profit of 3.2 billion riyals for the same quarter last year.

SICO Bahrain forecast the bank would make a net profit of 3.4 billion riyals, while EFG Hermes had expected a net profit of 3.5 billion.

$1 = 3.6405 Qatar riyals Reporting by Tom Arnold; editing by Jason Neely

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