Commercial Bank of Qatar net profit falls 15.3 pct, misses forecasts

April 22, 2015 11:41 AM

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DUBAI, April 22 (Reuters) - Commercial Bank of Qatar , the Gulf Arab state's second-largest lender by assets, posted a 15.3 percent drop in first-quarter profit on Wednesday as the bank set aside more cash to cover bad loans.

The bank earned a net attributable profit of 452.3 million riyals ($127.1 million) for the three months to March 31, it said in a bourse filing. That compares with a profit of 533.9 million riyals in the corresponding period of 2014.

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