Doha – Mubasher: QInvest on Thursday announced a 59.46% drop in its profits for the first quarter of 2017, compared to Q1-16.
Profits amounted to QAR 15 million ($4.12 million) in Q1-17, compared to QAR 37 million ($10.15 million) in Q1-16, according to the bank’s statement.
QInvest achieved revenues of QAR 98 million ($27 million) in the first quarter this year, compared to QAR 102 million in the same period in the year before.
Operating profits reached QAR 51 million ($14 million) in Q1-17, while assets stood at QAR 4.58 million ($1.258 million).
Revenues rose 32% by the end of 2016 to reach QAR 393 million.
