Mubasher: Commercial Bank of Qatar (CBQ) posted a drop of 98.3% in profits during the fourth quarter of 2016 as compared to the same period in 2015.
Earnings decreased to QAR 1.75 million ($480,220) in Q4-16 from QAR 101.5 million ($27.84 million) in Q4-15, according to a bourse statement issued on Tuesday.
Meanwhile, profits shrank by 64.3% to total QAR 500.75 million in fiscal year 2016 from QAR 1.4 billion in FY15.
Board members recommended 5% bonus shares or 1-for-20 shares.
