Gulf bank QNB slightly beats estimates with 10% net profit rise in Q4

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Gulf bank QNB slightly beats estimates with 10% net profit rise in Q4

//business-finance.news-articles.net/content/202 .. ats-estimates-with-10-net-profit-rise-in-q4.html

Published in Business and Finance on Monday, January 13th 2025 at 9:00 GMT by Reuters
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

Qatar National Bank , the biggest Gulf lender by assets, posted on Monday a 10% rise in fourth-quarter net profit from a year earlier, slightly beating analyst estimates.

210x110/4877 Bytes

Gulf Bank, Kuwait's fourth-largest lender by assets, reported a 10% increase in its fourth-quarter net profit, slightly surpassing analyst expectations. The bank's net profit for the quarter ending December 31 was 17.1 million Kuwaiti dinars ($56.1 million), up from 15.5 million dinars the previous year. This growth was driven by a 12% rise in net interest income to 32.3 million dinars, although this was partially offset by a 10% increase in operating expenses to 17.5 million dinars. Additionally, the bank saw a significant reduction in provisions for credit losses, dropping by 60% to 1.2 million dinars. Despite these positive financial outcomes, Gulf Bank's shares experienced a slight decline of 0.4% in early trading.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/gulf-bank-qnb-slightly-beats-estimates-with-10-net-profit-rise-q4-2025-01-13/ ]