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The Commercial Bank ( P.S.Q.C. ) Announces Net Profit of QAR 602.7 Million for the quarter ended 31 March 2021 25 April 2021 , Doha , Qatar : The Commercial Bank ( P.S.Q.C. ) ( " the Bank ” ) , its subsidiaries and associates ( " Group " ) announced today its financial results for the quarter ended 31 March 2021 . The Group reported a net profit of QAR 602.7 million as compared to QAR 402.1 million for the same period in 2020 . Key financial highlights for the Group compared to the same period in 2020 • Net profit of QAR 602.7 million , up by 50.0 % . • Normalized operating income of QAR 1,086.5 million , up by 8.4 % ( + 28.0 % on reported basis ) . • Operating profit of QAR 795.0 million , up by 8.8 % . • Normalized cost to income ratio of 26.8 % ( reported 31.5 % ) , decreased from 27.1 % ( reported 19.5 % ) . • Strong capital adequacy ratio of 18.3 % compared to 16.6 % in March 2020 . • Gross provisions of QAR 275.3 million , up by 28.7 % mainly on account of higher provisions on NPL customers . This was offset by recoveries resulting in net provisions on loans and advances to customers at QAR 212.5 million , up by 12.9 % . • Total assets of QAR 163.1 billion , up by 11.4 % . • Customer loans and advances of QAR 99.4 billion , up by 12.0 % . • Successfully issued international AT1 of USD 500 million in March 2021 . • " Best Bank in Qatar 2021 ” award from the Global Finance international magazine . • The " Serving Business Owners " and the “ Data Management and Security " awards in Private Banking and Wealth Management in Qatar for 2021 from Euromoney . • S & P revised outlook to " Positive " indicating the possibility of an upgrade in the next 12 24 months . - 1