Doha Bank, Qatar's fourth-largest lender by assets, reported a 16 per cent decline in first-quarter net profit on Monday, missing the average expectation of analysts.

The bank earned a net profit of QR354.16 million ($97.3 million) in the three months to Mar. 31 against QR420.21 million in the same period of the previous year, the company said in a filing to the Qatar bourse.

Three analysts polled by Reuters had forecast on average the bank would make a quarterly net profit of QR399.2 million.

Tough global economic conditions, including falling commodity prices and instability in currency markets, would curtail the bank's performance in 2016, chief executive R Seetharaman had warned in January. – Reuters