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The QNB Head Office in Doha. QNB’s total assets increased by 7.9% from June 2013 to reach QR466bn, the highest ever achieved by the group.
Registering growth across its portfolios, QNB Group posted a net profit of QR5.1bn for the first half of this year, up 7% on the same period in 2013.
Prudent cost control policy and strong revenue-generating capability allowed QNB, one of the world’s strongest banks and the top bank in the Middle East and North Africa, to maintain an efficiency ratio (cost to income ratio) of 21.5%, which is considered one of the best ratios among financial institutions in the region.
QNB’s total assets increased by 7.9% from June 2013 to reach QR466bn ($127.9bn), the highest ever achieved by the group. This was the result of a strong growth rate of 10.1% in loans and advances to reach QR326bn ($89.6bn).
The half-yearly financial results announced by QNB yesterday indicated that the group was able to maintain the ratio of non-performing loans to gross loans at 1.6%, a level considered one of the lowest amongst banks in the Middle East and Africa, reflecting the high quality of its loan book and the effective management of credit risk.
QNB Group’s conservative policy in regard to provisioning continued with the coverage ratio, reaching 123% in June 2014.
At the same time QNB Group increased customer funding by 5.8% to QR345bn ($94.8bn). This led to the group’s loan to deposit ratio reaching 95%.
Total equity increased by 10.4% from June 2013 to reach QR54bn ($14.7bn) as on June 30.
Earnings per share reached QR7.2 compared with QR6.8 in June 2013.
QNB Group started implementing updated QCB and Basel III requirements for the calculation of the Capital Adequacy Ratio (CAR) from early 2014. The ratio stood at 15.9% as at 30 June 2014, higher than the regulatory minimum requirements of the Qatar Central Bank.
QNB Group said it was keen to maintain a strong capitalisation in order to support future strategic plans.
As a result of the QNB Group’s high credit ratings and outstanding asset quality, it was selected as one of the world’s 50 safest financial institutions by Global Finance.
Based on its continuous strong performance and the expanding international presence, the QNB Group improved its ranking as the most valuable brand in the Mena region, with a world ranking of 101 (Brand value $1.81bn) from 120 in 2012 (Brand value $1.31bn).
QNB Group is present, through its subsidiaries and associate companies, in 26 countries providing a comprehensive range of products and services.
The total number of staff was more than 13,900 operating from more than 600 locations and with an ATM network of more than 1,270 machines.
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