The Commercial Bank of Qatar (Q.S.C.) announced earnings results for the fourth quarter and full year ended December 31, 2012. The company reported profit for the fourth quarter of 2012 at QAR 447 million was up 19% compared with the fourth quarter of 2011.

The company reported net profit for the year, up 7%, to QAR 2,012 million compared with QAR 1,884 million achieved in 2011. Net operating income increased by 4% to QAR 2.98 billion for the year ended 31 December 2012 up from QAR 2.86 billion achieved in 2011. Net interest income was QAR 1.87 billion for the year ended 31 December 2012, 4% lower than in 2011, reflecting growth in lending to customers offset by a reduction in the net interest margin to 2.95% in 2012 from 3.46% in 2011.

The company also announced that the Board of Directors is recommending, for approval at the Annual General Assembly, a cash dividend payout of 74% of net profit which equates to QAR 6 per share.