Commercial Bank of Qatar Q1 net profit up 7 pct

DOHA, April 17 Wed Apr 17, 2013 8:41am EDT

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DOHA, April 17 (Reuters) - Commercial Bank of Qatar (CBQ), which is buying a majority stake in Turkey's Alternatifbank, posted a 7 percent increase in first-quarter net profit on Wednesday, beating analysts' expectations.

Net profit in the three months to the end of March was 506 million riyals ($139.0 million) compared to 471 million in the same period a year ago.

Analysts had forecast an average quarterly profit of 469 million riyals, according to a Reuters poll.

($1 = 3.6404 Qatar riyals) (Reporting By Regan Doherty, Editing by Andrew Torchia)

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