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Persian Gulf Stocks: Doha Bank, Qatar Islamic Bank, InvestBank

Jan. 19 (Bloomberg) -- Qatar’s QE Index slumped 1.1 percent to 8,461.77, the lowest since Oct. 25, at the 1 p.m. close in Doha. The measure retreated 2.7 percent this week. Dubai’s shares dropped 0.3 percent while Saudi Arabia’s market was closed for the weekend.

The following shares were active in the Persian Gulf region. Stock symbols are in parentheses.

Doha Bank QSC (DHBK QD) fell the most since Oct. 4, declining 2.9 percent to 63 riyals. Full-year earnings of 1.24 billion riyals ($341 million) at Qatar’s third-largest bank by total loans met analysts’ estimates. The bank also said it may sell bonds as early as this quarter to raise $500 million or more.

InvestBank PSC (INVESTB UH) climbed the most in more than two weeks, rising 6.3 percent to 1.7 dirhams. The Sharjah, United Arab Emirates-based lender said it plans to pay a cash and stock dividend as full-year profit rose.

Qatar Islamic Bank (QIBK QD) declined the most since March 14, losing 3.1 percent to 80.3 riyals. Full-year profit of 1.37 billion riyals at the Persian Gulf country’s biggest Shariah-compliant lender missed analysts’ estimates.

To contact the reporter on this story: Zahra Hankir in Dubai at zhankir@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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