QNB Group’s net profit surged by 7% to reach $3.5 billion (QAR12.7 billion), driven by strong growth across various revenue streams. Operating income increased by 5% to QAR30.5 billion, reflecting the group’s ability to maintain successful growth across a range of revenue sources.
QNB Group’s total assets reached QAR1.28 trillion, a growth of 8% year-over-year. The growth was primarily fueled by an 11% increase in loans and advances to QAR905 billion and an 11% increase in customer deposits to QAR909 billion.
The group’s efficiency ratio stood at 22.4%, one of the best among large financial institutions in the MEA region. QNB’s non-performing loans to gross loans ratio remained at a low 3%, reflecting its effective credit risk management.
The loan loss coverage ratio stood at 100%, demonstrating a prudent approach to non-performing loans.
QNB Group’s capital adequacy ratio (CAR) stood at 19.5%, well above regulatory requirements. The liquidity coverage ratio (LCR) and net stable funding ratio (NSFR) were also significantly higher than regulatory minimums, at 154% and 104% respectively.
Total equity increased to QAR113 billion and earnings per share reached QAR1.28.
The bank continues to expand its footprint, with a presence in more than 28 countries across three continents. The group operates around 900 locations, 5,000 ATMs, and is supported by 31,000 staff.
