Qatar Commercial Bank shares rose 0.79% following the announcement of the annual financial results

Commercial Bank’s shares, listed on the Qatar Stock Exchange, rose by 0.79% at the close of stock trading on Tuesday, closing at a price of 4.30 riyals per share, following the announcement of the annual financial results. 3.98 million shares of Commercial Bank’s shares were traded at that time, with a trading value of 17.13 million riyals. The highest price per share at that time was 4.34 riyals, while the lowest price per share was 4.27 riyals. The Commercial Bank of Qatar achieved A slight growth in its profits during the fiscal year ending on December 31, as profits increased by 0.73% compared to the previous year, with a proposal to distribute cash dividends to shareholders. The bank’s profits in the period ending on December 31 reached about 3.03 billion Qatari riyals, compared to net profits amounting to 3.01 billion. riyals for the same period last year. Earnings per share reached 0.71 Qatari riyals in 2024, which is the same value recorded In the year 2023. The bank’s Board of Directors recommended distributing cash dividends of 30% of the nominal value of the share, equivalent to 0.30 Qatari riyals per share for the year 2024, after obtaining the approval of the Qatar Central Bank and the General Assembly. Abdullah bin Ali bin Jabr Al Thani indicated Chairman of the Bank’s Board of Directors, indicated that Standard & Poor’s maintained the bank’s rating at level A with a stable future outlook, which reflects the solidity of capital and the support it provides. The bank is provided by Qatari authorities, and confirms its vital role in the national economy. The bank’s total assets amounted to 165.8 billion Qatari riyals, recording an increase of 0.9% compared to 2023, when the assets amounted to 164.37 billion riyals. The value of loans and advances provided to customers amounted to 91.5 billion Qatari riyals. While customer deposits increased to 77.0 billion Qatari riyals, an increase of 0.6% over the previous year, when they were 76.54 billion riyals. The bank also recorded profits in the first nine months of last year amounting to 2.34 billion Qatari riyals, an increase of 2.63% compared to the same period in 2023, in which profits amounted to 2.28 billion riyals.