Commercial Bank of Qatar posted a second-quarter net profit of 333.2 million riyals ($91.59 million), down 45 percent from the year-earlier period.

The company made a net profit of 943.3 million riyals in the first half of the year, compared with 1 billion riyals a year earlier, the firm said in a statement on Wednesday, without offering a breakdown of quarterly data.

Analysts had forecast an average second-quarter net profit of 495.09 million riyals. The bank last year reported a net profit of 602.74 million in the second quarter.

Reuters calculated the quarterly profit based on previous financial statements. -Reuters