The net profits of the Qatar National Bank Group (QNB) (a Qatari public shareholding company) increased in the first nine months of this year by 7 percent to reach 12.710 billion Qatari riyals, compared to 11.873 billion riyals in the same period last year, supported by operating income, which increased by 5. percent, reaching 30.5 billion Qatari riyals.
The bank stated, in a statement published on the Qatar Stock Exchange website today, that earnings per share recorded an increase to reach 1.28 Qatari riyals in the period ending on September 30, 2024, compared to earnings per share of 1.19 Qatari riyals for the same period of the previous year.
Total assets amounted to 1.279 trillion Qatari riyals (351 billion US dollars), an increase of 8 percent over the period ending September 30, 2023, driven by an 11 percent growth in loans and advances to reach 905 billion Qatari riyals (249 billion US dollars).
The influx of various deposits also helped customer deposits rise to reach 909 billion Qatari riyals (250 billion US dollars), an increase of 11 percent over the period ending September 30, 2023. While the ratio of loans to deposits stabilized to reach 99.5 percent during the same period.
The efficiency ratio (cost to income ratio) reached 22.4 percent, which is considered one of the best ratios among large financial institutions in the Middle East and Africa region.
The rate of non-performing loans as a percentage of the total loan portfolio reached 3 percent, which is among the lowest rates among the major banks in the Middle East and Africa region, which reflects the high quality of the loan portfolio and the effectiveness of the credit risk management policy.
The coverage ratio for non-performing loans was 100 percent, which reflects the continuation of the conservative approach adopted by the group towards non-performing loans.
The capital adequacy ratio was 19.5 percent. While the liquidity coverage ratio and net stable financing ratio reached 154 percent and 104 percent, respectively.
These percentages are higher than the minimum regulatory requirements of the Qatar Central Bank and the Basel Committee.
Total shareholders’ equity rose to 113 billion Qatari riyals (31 billion US dollars), an increase of 4 percent over the period ending September 30, 2023.