July 12, 2020 / 10:39 AM / a month ago

QNB posts H1 net profit of $1.8 bln

DUBAI, July 12 (Reuters) - Qatar National Bank reported a net profit of 6.4 billion riyals ($1.76 billion) in the first half of 2020, down 13% from a year earlier, after it increased loan loss provisions, the Gulf’s biggest lender said on Sunday.

QNB is 50% owned by Qatar’s sovereign wealth fund, the Qatar Investment Authority. ($1 = 3.6415 Qatar riyals) (Reporting by Yousef Saba; editing by David Evans)

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