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Financials

Qatar National Bank's 2019 net profit up 4%, beats forecast

Jan 14 (Reuters) - Qatar National Bank, the Gulf’s biggest bank by assets, on Tuesday posted a 4% rise in annual profit, beating analysts’ forecasts, as earnings were boosted by a double-digit growth in loans.

QNB reported a net profit of 14.4 billion riyals ($3.95 billion) in 2019, up from 13.8 billion riyals in 2018, it said in a statement.

The profit was above the mean forecast of 13.9 billion riyals by analysts, according to Refinitiv.

$1 = 3.6400 Qatar riyals Reporting by Eric Knecht and Saeed Azhar, editing by Davide Barbuscia

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