Qatar's Al Khaliji Bank has reported a net profit of QR149.6 million ($41.09 million) for the second quarter of this year, compared to QR159 million for the same period last year.

However, the profit represented an increase of 37 per cent over its financial results for the first quarter.

Net profit for the first six month of this year was QR258.8 million, compared to QR290.5 million for the same period in 2013.

Al Khaliji France’s net profit was QR31.6 million in H1 2014 and represented 12 per cent of the group net income.

Robin McCall, Al Khaliji Group chief executive officer, said: “The momentum of the bank’s commercial franchise continues to thrive, with each Qatar business division displaying solid year on year growth in headline earnings. The ability to realise capital gains from our fixed income portfolio, which formed an important revenue component in past years, is muted and will be progressively replaced by an ongoing increase in business market share.” - TradeArabia News Service