Qatar: The Qatar Exchange 20 Index gained 0.46% to reach 9,694.70 points on Thursday. Market bellwethers Industries Qatar and Qatar National Bank (QNB) gained 0.95% and 0.49%, respectively. Commercial Bank of Qatar (CBQ) fell 1.28% to QR69.40. Earlier in the day, the gas-rich gulf state's second lender said the half-year net profit was QR1.024bn, up 1% against the same period in 2012. Net profit for the second quarter of 2013 was up by 2.5% to QR518m compared with the first quarter of 2013. However, year-on-year the Q2 net income was down 5.6%, reflecting a rise in provisions. "The bank's net provisions for loans and advances were QR194m for the six months ended 30 June 2013, up from QR32m provided in the same period for 2012," said CBQ. "Net provisions and non-performing loans have been impacted in the second quarter of 2013 by a prudential provision taken on a domestic real estate loan; the first half of 2012 included the recovery of provisions of QR89m." [AMEInfo.com]
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