Bloomberg News

Commercial Bank Qatar Falls Most in Week as Net Misses Estimates

January 26, 2012

Jan. 26 (Bloomberg) -- Commercial Bank of Qatar dropped the most in a week after fourth-quarter at the Persian Gulf country’s second-biggest lender missed analysts’ estimates and as it plans to pay a lower dividend than last year.

The shares fell 2 percent, the most since Jan. 19, to 80 riyals at 9:50 a.m. in Doha.

Net income climbed to 376 million riyals ($103 million) from 308.8 million riyals a year earlier. The median estimate of four analysts was for a profit of 445 million riyals, according to data compiled by Bloomberg.

The bank plans to pay a dividend of 6 riyals a share for 2011. It paid 7 riyals last year.

--Editors: Claudia Maedler, Daliah Merzaban

To contact the reporter on this story: Zahra Hankir in Dubai at zhankir@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net


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