Al Khalij Commercial Bank (al khaliji) reported a net profit of QR319.8 million ($87.02 million) for the first six months of this year, compared to QR320 million for the same period in 2016.

This was driven by growth of 3.4 per cent in operating income, effective cost management leading to lower operating expenses and prudent provisioning on the credit portfolio, the bank said.

The bank’s net interest income increased 9 per cent YoY to QR496.2 million; net operating income reached QR609.8 million, up 3.4 per cent compared to last year; and it showed a deposit growth of 5.7 per cent to QR32.2 billion. – TradeArabia News Service