VOL. XLII

No. 26

28-June-1999

QATAR

Qatari Banks 1998 Profits Up By 28.51%: Too Good To BeTrue?

With a debt burden equivalent to around 105% of GDP andrevenues slashed by some 30%, few would have expected Qatars domestic banks tomaintain their persistently high profit levels in 1998 and yet results outstripthe preceding four years. All six local commercial banks have recordedincreased profits for 1998, with average individual growth of 15.69% and atotal sectoral increase of 28.51% a...