Qatar stocks led losses in the Middle East as companies started reporting results across the region.
Profitability for lenders in the Gulf Arab region remains under pressure, with disruptions to trade and travel continuing to rattle the energy-rich region. Qatar National Bank QPSC, the Middle East’s biggest lender, reported last week a 16% drop in net income for 2020. Some banks in Oman also published results that showed a decline from last year. After the market closed on Sunday, Qatar Islamic Bank SAQ posted earnings that beat estimates.