VOL. XLVII

No 16

19-April-2004

BANK RESULTS

Qatar Banks Set Profit Record In 2003 As Economy Remains Strong

The following report on Qatar is the first of MEES annual country bank surveys.

Qatars banks set yet another record for profits in 2003 with an increase of 28% to $389.6mn as gains were seen almost across the board. They were beneficiaries of Qatars strong economy which has been boosted by a jump in oil prices and increasing LNG sales as the country reaps the rewards of its extensive capital...