Commercial Bank of Qatar Q1 net profit rises 8 pct

DUBAI, April 29 Tue Apr 29, 2014 2:03am EDT

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DUBAI, April 29 (Reuters) - Commercial Bank of Qatar , the Gulf Arab state's second-largest lender by assets, posted an 8 percent increase in first-quarter profit on Tuesday, beating estimates.

The bank earned a net profit of 548 million riyals ($150.5 million) for the opening three months of 2014, compared with 506 million riyals in the same period last year, it said in a statement.

Analysts had forecast an average quarterly profit of 468.5 million riyals, according to a Reuters poll. ($1 = 3.6409 Qatar Riyals) (Reporting by Olzhas Auyezov; Editing by Andrew Torchia)