Commercial Bank of Qatar earned a net profit of QR1.458 billion ($389 million) in the year ending Dec. 31, against a profit of QR1.94 billion a year ago, the bank said in a statement.

CBQ, which also owns Alternatifbank in Turkey and holds a 34.9 per cent stake in National Bank of Oman, said earnings per share stood at QR4 for the period compared to QR5.39 a year ago.

The bank's board has recommended distributing a cash dividend of QR3 per share, the statement said.

For 2014, CBQ's board had recommended a cash dividend payout of QR3.5 per share and the issue of one bonus share for every 10 shares held. – Reuters