QATAR : Qatar's local banking sector reports 32% growth in 2011 net profits.

Qatar's local banking sector reported growth of 32% in net profits for 2011, compared to net profits of 2010. Global Investment House, a Kuwaiti investment company licensed by Central Bank of Kuwait, announced this.
According to Global Investment House, in 2011, local banks total assets increased by 35% to US $82.99 billion while their operational revenue increased by 34%.
The net revenues from fees and commission increased by 16% for 2011, while foreign currency transactions increased by 44%. Qatar's Islamic banking business increased by 37% YoY basis.
2012 Al Bawaba (Albawaba.com)
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