Commercial Bank and its subsidiaries reported a pre-tax profit of QR1.64 billion for the nine months ending September 30, 2026, supported by stable operating performance amid a challenging regional environment. The bank’s net operating income increased by 2.9 percent year-on-year to QR3.57 billion, driven primarily by growth in net interest income. However, overall profits were tempered by higher loan provisions, increased operating expenses related to investments in digital technologies, and a reported loss of QR46.5 million from its Turkish subsidiary, Alternatif Bank, after adjusting for hyperinflation accounting.
The Group’s total assets declined by 4.4 percent compared to the same period last year, reaching QR183.6 billion. Despite this decrease, the bank recorded growth in key asset categories, including loans and advances to customers as well as investment securities. Commercial Bank is focused on executing its strategic plan announced in January 2026, which extends through 2030, with an emphasis on disciplined growth and enhancing digital capabilities.
In its Retail and Wealth division, the bank reported strong performance driven by higher fee income and an expanded advisory-led wealth management offering, targeting affluent and private banking customers through improved digital platforms. Wholesale Banking maintained selective lending growth, concentrating on higher-return segments and expanding cross-selling opportunities. Investments in artificial intelligence and automation were highlighted as key components to enhancing customer service and operational efficiency.
Alternatif Bank, which operates in Turkey’s hyperinflationary economy, showed improvement in operating profit before accounting adjustments. The Group continues to apply International Accounting Standard 29 (IAS 29) to reflect Turkey’s economic conditions, which contributed to reported losses at the subsidiary level. The bank adopted a more balanced approach to loan provisioning throughout 2026, aligning with IFRS 9 standards and prudent risk management practices, rather than the previous practice of absorbing larger provisions in the final quarter.
The Group also recorded a charge of QR104.7 million for the Base Erosion and Profit Shifting (BEPS) Pillar Two Tax, resulting in a net profit after tax of QR1.54 billion for the period. The operating environment remained volatile due to geopolitical tensions affecting key maritime and energy supply routes in the region. Despite these challenges, Commercial Bank maintained stable operations through a strong governance framework, robust risk management, and continuous investments in digital infrastructure.
Qatar’s banking sector demonstrated resilience during this period, supported by capital strength and liquidity measures implemented by the Qatar Central Bank, including enhanced liquidity facilities and temporary payment deferrals for borrowers affected by the economic uncertainties. Commercial Bank emphasized its commitment to supporting customers, maintaining strong liquidity and capital positions, and executing its strategic initiatives to drive sustainable growth aligned with Qatar National Vision 2030.
Sheikh Abdulla bin Ali bin Jabor Al Thani, Chairman, underscored the bank’s disciplined response to the operating environment and its focus on long-term value creation for stakeholders. Omar Hussain Alfardan, Vice Chairman and Managing Director, highlighted advancements in digital wealth management and client relationship enhancements. Stephen Moss, Group Chief Executive Officer, noted the stable operating profit amid increased expenses and stated priorities including balanced earnings growth, technology investment, and customer engagement as the bank advances its 2026–2030 strategy.