Commercial Bank of Qatar Q2 net profit dips 3 pct

DUBAI, July 23 Wed Jul 23, 2014 7:59am EDT

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DUBAI, July 23 (Reuters) - Commercial Bank of Qatar (CBQ) , the Gulf Arab state's second-largest lender by assets, suffered a 3 percent decline in second-quarter net profit, Reuters calculations based on half-year figures from the bank showed on Wednesday.

The bank earned a net 502.6 million riyals ($138.1 million) in the three months to June 30, compared with 518.2 million in the same period last year, Reuters calculated. Analysts had on average forecast a quarterly profit of 512.8 million, according to a Reuters poll.

CBQ said in a bourse filing it had made a net 1.05 billion riyals in the first six months of 2014, up 3 percent on the same period last year. It gave no quarterly breakdown so Reuters calculated the figure using financial statements. ($1 = 3.6404 Qatar Riyals) (Reporting by David French; Editing by David Holmes)

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