DOHA — In the first quarter of 2025, Qatar’s corporate profits rose by a modest 0.9%, to around $3.62 billion seen in the Doha Stock Exchange.
The slight rise primarily resulted from the performance of banks, real estate, and energy companies. The banking sector contributed the lion’s share of profits, with 58%, rising by 1.1% to $2.09 billion.
The best performer was Qatar National Bank (QNB), whose profit rose nearly 3% to $1.2 billion as a result of higher income from operations and new loans. Qatar Islamic Bank (QIB) and Qatar International Islamic Bank (QIIB) also saw 3.2% and 6.4% rises in profit, respectively, as a result of higher interest income and lower loan impairments.
But telecom companies had a mixed quarter. Ooredoo’s earnings increased 5.2% to approximately $263 million, backed by reduced forex losses and interest expenses. Vodafone Qatar’s net earnings also increased 8.2%, to approximately $44.5 million, backed by expansion in mobile services and IoT services.
The energy sector saw profits rise by 7.5% to around $243 million, with Gulf International Services jumping 37.8% to nearly $61 million. Nakilat’s profit increased by 3.2%, mostly because of higher demand for LNG shipping, even though joint venture income dipped a bit. That said, not all sectors performed equally.
The materials and Food & Beverage industries saw declines, which slowed overall growth. Across the GCC, corporate profits grew 2% to roughly $58.6 billion, with Qatar’s slight increase showing how much the country depends on banking and energy, especially during tough global economic times. (Source: Zawya)
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