Commercial Bank announces QR602.7m net profit for Q1

The Commercial Bank (P.S.Q.C.), its subsidiaries and associates (Group), announced yesterday a net profit of QR602.7m for the quarter ended March 31, 2021 compared to QR402.1m for the same period in 2020, showing a growth of 50 percent.

Sheikh Abdulla bin Ali bin Jabor Al Thani, Chairman of the Board of Directors of Commercial Bank, said: “Commercial Bank is privileged to have been able to support Qatar, its people and the economy through the challenges of the COVID-19 pandemic. We implemented several measures to ease the financial stress on our clients such as postponing loan installments and interest payments, providing corporates and SMEs in affected sectors with concessionary interest rates and being one of the largest participants in the National Response Guarantee Programme.”