Qatar’s Commercial Bank revenues exceed $600m in 9 months

The Commercial Bank of Qatar yesterday said its revenues had reached a total of 2.201 billion riyals ($604.7 million) in the first nine months of 2022, a 3.3 per cent increase compared to 2.132 billion riyals last year.

The bank explained in a statement that the revenue increase was a result of a “total of 86.2 billion
riyals ($22.9 million) in customer deposits.”

“The bank’s net profits this year marked a 6.9 per cent increase compared to the same period in 2021,” the statement read.

Hussain Alfardan, Commercial Bank’s Vice-Chairman, added: “Commercial Bank has achieved another quarter of positive financial and operational performance, reflecting its resilience against global economic uncertainty.”

“The Bank also continues to benefit from Qatar’s strong economy and this should only increase with the onset of the 2022 FIFA World Cup and its positive impact on the country.”

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