Doha – Mubasher: Qatar National Bank’s (QNB) stock declined to its lowest level in four years during Sunday’s trading sessions.
By 12:00 pm Qatar time, the stock fell 2.46% to reach QAR 131.30, registering its lowest price since mid-April 2013.
The bank’s stock led in terms of traded volume with 224,690 shares exchanged at QAR 28.86 million through 240 transactions.
Standard and Poor’s (S&P) had previously announced downgrading its long-term outlook for Qatar National Bank (QNB) to “A” from “A+” after some Arab and Gulf countries broke their diplomatic ties with Qatar.
The QSE-listed bank's profits rose 11.5% to reach QAR 3.2 billion in the first quarter of 2017, compared to QAR 2.87 billion in Q1-16.
