CBQ Records QR 1. 88 billion in Net Profit

Doha, January 25 (QNA) - Commercial Bank of Qatar (CBQ) discloses the financial statements for the year ended December 31, 2011. The financial results revealed a net profit of QR 1.88 billion in 2011 versus QR 1.63 billion in 2010 and the Earnings per Share (EPS) amounted to QR7.71 in 2011 compared to QR 7.24 in 2010. The Bank’s draft results have been announced following approval at a meeting of Commercial Bank’s Board of Directors. The Board of Directors is recommending, for approval at the Annual General Assembly, a cash dividend payout of 78% of net profit which equates to QR 6 per share. The financial results and profit distribution are subject to the approval of the Qatar Central Bank, the bank said in a press release carried by Qatar Exchange. The bank also recommended a profit distribution in the form of 6 QR per share cash dividend. Commercial Bank was established in 1975 and was Qatar s first private bank. In 1197, the bank licensed broker on Qatar Exchange. (QNA)