Qatar National Bank (QNB Group) ’s net profits for the year 2024 grew by 8% to reach $4.6 billion (QAR 16.7 billion) compared to QAR 15.5 billion in 2023. The banking group’s earnings per share (EPS) amounted to QAR 1.69 as of December 31, 2024, versus earnings per share (EPS) of QAR 1.55 for the same period in 2023.
QNB’s board of directors recommended a cash dividend of 37% of the nominal share value (QAR 0.37 per share) for the second half of the year ended December 31, 2024, taking into account the record net profit reported by the bank for the financial year 2024.
The total dividend distribution for the year ended December 31, 2024, amounts to 70% of the nominal share value (QAR 0.70 per share).
Total assets reached QAR 1.29 trillion, an increase of 5% from the previous year, mainly driven by growth in loans and advances by 7% t to reach QAR 911 billion. Customer deposits increased by 3% to reach QAR 887 billion from the previous year, supported by diversification of deposit generation.
QNB’s efficiency (cost to income) ratio stood at 22.3%, which is considered one of the best ratios among large financial institutions in the MEA region. Its non-performing loans as a percentage of the total loan portfolio decreased to 2.8% as of December 31, 2024.
The bank maintained a loan loss coverage ratio of 100%, which reflects the high quality of the group’s loan book and the effective management of credit risk. The full-year loan loss charge decreased to QAR 8.1 billion, representing a decrease of 6% compared to the previous year.
Total equity increased to QAR 114 billion, up by 3% from the previous year, while earnings per share reached QAR 1.69.
