DOHA Jan 14 Qatar National Bank
(QNB), the largest lender in the Gulf Arab region, posted a 13.7
percent increase in fourth- quarter net profit, slightly
trailing analysts' expectations.
The bank, which completed the purchase of a majority stake
in Societe Generale's Egyptian arm for $2 billion last
March, reported a net profit of 2.4 billion riyals ($659
million) for the final three months of 2013, according to
Reuters calculations based on company data.
This compared with 2.11 billion riyals in the same period of
Analysts, on average, had forecast a net profit rise of 17.5
percent to 2.48 billion riyals.
Full-year profit for 2013 was 9.5 billion riyals, also up
13.7 percent on the previous year, the company said in a
statement on Tuesday.
QNB's board has recommended a cash dividend of 7 riyals per
share for 2013, the statement added. This is up from the 6
riyals per share paid for the previous year, according to
($1 = 3.6415 Qatar riyals)
(Reporting by Amena Bakr; Writing by David French; Editing by