- Commercial Bank of Qatar’s net income rose to 2.34 billion riyals for the first nine months of 2024, marking a 2.8% increase year-over-year.
- The earnings per share (EPS) for the same period increased to 0.59 riyals from 0.57 riyals year-over-year.
- In the third quarter, net income was reported at 770.3 million riyals, showing a 17% decline compared to the previous year.
- Third-quarter EPS was 0.19 riyals, down from 0.23 riyals year-over-year, aligning precisely with the estimated figures.
- Net interest income for the third quarter decreased by 6.4% year-over-year to 881.6 million riyals.
- Net fee and commission income fell 26% in the third quarter to 228.9 million riyals.
- Net operating income for the third quarter was 1.18 billion riyals, 18% lower than the previous year and below the estimated 1.3 billion riyals.
- Operating expenses increased by 21% year-over-year in the third quarter, totaling 356.6 million riyals.
- Operating profit for the third quarter dropped by 28% to 827.7 million riyals.
- Pretax profit also saw a decline of 20% in the third quarter, amounting to 755.5 million riyals.
- Analyst recommendations include 4 buy ratings, 3 hold ratings, and no sell ratings.
A look at Commercial Bank PQSC Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 4 | |
| Growth | 4 | |
| Resilience | 2 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 3.4 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Analysts using Smartkarma Smart Scores have evaluated Commercial Bank PQSC and provided ratings across various factors. With strong scores in Value, Dividend, and Growth categories, the bank is seen as solid in terms of financial health and potential for returns. However, it receives lower scores in Resilience and Momentum, indicating some areas of concern in terms of stability and market performance.
The long-term outlook for Commercial Bank PQSC appears positive overall, with robust ratings in key areas such as value and dividend performance. Investors may find the bank attractive for its potential growth prospects and consistent dividend payouts. However, they should also be mindful of the lower scores in resilience and momentum, suggesting that the bank may face challenges in navigating market volatility and maintaining momentum in the future.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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