Commercial Bank declared QR1.64bn net profit before Pillar Two Tax, supported by resilient operating performance in the nine months of 2026.
Net operating income increased by 2.9% year-on-year (y-o-y) to QR3.56bn, driven by increases in net interest income.
The results also include a reported loss of QR46.5mn from Alternatif Bank after the impact of hyperinflation accounting.
Total assets as of September 30, 2026, reached QR183.6bn, a y-o-y decrease of 4.4%, mainly driven by a decrease in due from banks, which was partially offset by higher loans and advances to customers and higher investment securities.
Net loans and advances to customers excluding acceptances of QR100.7bn reflects a growth of 6.3% from September 30, 2025.
Customer deposits decreased by 3.0% to QR83.1bn. Low-cost deposits increased by 3.6% to QR31.4bn and represented 37.8% of the total customer deposit mix.
The group’s Common Equity Tier 1 (CET 1) Ratio as of September 30, 2026, is 12.8%. The Total Capital Adequacy Ratio (CAR) for the same period increased to 18.9%. These ratios are higher than the regulatory minimum requirements of the Qatar Central Bank and Basel III requirements.
Total equity stood at QR26.6bn, down by 0.9% y-o-y. Investment securities increased by 5.1% to reach QR41.3bn, with the group investing in high-quality securities.
The group reported consolidated net profit after tax of QR1.53bn for the nine months of 2026, including a BEPS Pillar Two Tax charge of QR104.7mn and a reported post-hyperinflationary accounting loss of QR72.9mn for Alternatif Bank.
Net Interest income increased by 10.2% to QR2.80bn, and net fee and commission income decreased by 5.8% to QR692.5mn. Excluding one-offs, y-o-y net fees and commission income reflected a growth of 11.4%.
The group’s reported cost-to-income ratio increased to 32.3% mainly due to continued investment in digital capabilities, including AI and people, and higher costs from Alternatif Bank.
Total gross provisions increased by 49.3% to QR1.24bn. This includes specific loan provisions and ECLs of QR1.01bn. The higher loan provisioning in the three quarters reflects the group’s practice for 2026 onwards of provisioning consistently throughout the year, rather than taking a larger charge in the fourth quarter.
Net provisions were at QR979.8mn supported by recoveries, which increased y-o-y by 15.2% to QR268.5mn. The share of the results of associates increased by 8.8% to QR323.2mn.
The group’s balance sheet stood at QR183.6bn for the period, declining by 4.4% y-o-y. Despite the overall decline, the group continued to record growth in key asset categories, with growth in loans and advances to customers and investment securities growing.
The group also accrued a charge of QR104.7mn for BEPS (Base Erosion and Profit Shifting) Pillar Two Tax. This resulted in net profit after Pillar Two Tax of QR1.53bn for the period.
Commercial Bank chairman Sheikh Abdulla bin Ali bin Jabor al-Thani said, “In the nine months of 2026, Commercial Bank continued to navigate a challenging operating environment with discipline and resilience. The group continues to benefit from sound governance, a strong balance sheet and prudent management of risk and capital.
“As we progress with the execution of our 2026-2030 strategy, our focus remains on strengthening the bank for sustainable, profitable growth and creating long-term value for our shareholders, customers and the wider economy, in alignment with Qatar National Vision 2030.”
Omar Hussain Alfardan, vice chairman and managing director, said: “We continued to advance the execution of our strategy, with a focus on deepening client relationships and strengthening our core businesses. In Retail and Wealth Banking, we enhanced our premium offering through the refreshed Sadara proposition and advanced our digital wealth capabilities, supported by external recognition for our wealth management franchise and digital innovation in cards and payments.
“In Wholesale Banking, our priorities remained focused on higher-return client segments and strengthening transaction banking relationships. We were also honoured by the Ministry of Labour with the Excellence Award for Leadership Skills Development, reflecting our commitment to developing Qatari talent and building the leadership capabilities required to deliver the next phase of our strategy.”
Stephen Moss, Group CEO, said: “The group delivered a resilient performance in the nine months to September 30, with Net Operating Income increasing by 2.9%. Operating Profit remained broadly stable, while reported profit reflected higher provisioning, increased operating expenses and lower non-interest income. The domestic franchise remains strong, supported by underlying lending growth, while Alternatif Bank returned to operating profitability.
“Our priorities remain clear: disciplined growth, prudent risk and cost management, and progressing towards a more balanced earnings mix. We will continue to strengthen core customer relationships and invest in technology and customer propositions as we execute the 2026–2030 strategy.”
