Qatar First Bank has earned a revenue of QR92.3mn in the first quarter of this year, QFB said yesterday.
QFB head (Treasury and Investment Management) Ayman Zaidan said, “Despite the challenging macroeconomic landscape that we faced in 2017, the first few months of 2018 seem to be showing a positive growth momentum for the banking and financial sector. Given the condition, QFB was able to generate a revenue of QR92.3mn and recorded a loss of QR28.6mn. 
“The cost rationalisation plan we implemented in 2017, for the purpose of raising efficiency is generating positive results where there is significant reduction in both staff cost and other operating expenses, 28.8% and 29.4% respectively compared to the same period of 2017.”
QFB has made progress towards its revised strategy where the bank is undergoing a transformational shift from a proprietary-based investment model to having a diversified base of fee-based revenue streams.  On the back of this new strategy, QFB has already begun generating fee income by offering client-focused investment products, primarily in real estate and aviation.
QFB total assets slightly decreased by 2.7% compared to year end 2017, and closed at QR4.8bn. While the bank’s income from both financing assets and placement with financials institution generated a steady income of QR20.2mn and QR6.2mn respectively. 
The treasury and investment front has fuelled an ambitious plan to continue increasing the assets under management through multiple deal by deal transactions. This will be accomplished by the direct sourcing, structuring and placing of these deals.  
While the asset and liability management desk continued to offer innovative products and solutions to the Qatari corporate client base, prudent liquidity management measures have enabled the bank to maintain its cost of funding and generate positive net profit margins.