Group, one of the largest and one of the most highly regarded
financial institutions in the Middle East and North Africa region, has
announced its financial results for the nine months ended 30 September
2012. The group recorded a net profit of QR6.2 billion, up by 15.0%
compared to the same period last year.
H.E. Yousef Hussain Kamal, QNB Chairman (Photo: Business Wire)
Total assets increased by 25.3% since 30 September 2011 to reach QR351.0
billion, the highest ever achieved by the Group. This was the result of
a strong growth rate of 41.9% in loans and advances to reach QR238.6
billion. Meanwhile, customer deposits recorded solid growth of 37.4% to
The Bank was able to maintain the ratio of non-performing loans to total
loans at 1.2%, a level considered to be the lowest amongst banks in the
Middle East and North Africa. Provisions were conservatively managed, as
the coverage ratio reached 116%.
The efficiency ratio (cost to income ratio) stood at 16.6%, compared to
15.3% in September 2011, one of the best ratios among financial
institutions in the Middle East and North Africa.
Total shareholders’ equity increased by 13.1% since 30 September 2011 to
reach QR46.2 billion. QNB Group maintains a strong capital adequacy
ratio higher than the regulatory requirements of Qatar Central Bank and
Basel Committee. The Group is keen to maintain a strong capitalisation
in order to support future strategic plans.
Based on the Group’s strong capitalization and high credit ratings, QNB
was named one of the World’s 50 Safest Banks and one of the Safest Banks
in the Middle East, according to the latest update published by Global
Finance in April 2012.
QNB Group launched its debut bond issue under its Euro Medium Term Note
Program in the international capital markets which amounted to US$1.0
billion with a 5-year maturity. This highly successful issue received an
overwhelming interest from regional and international investors. The
bank has also successfully closed a syndicated facility amounting to
US$1.8 billion with a maturity of three years that was competitively
priced. This facility received a very strong interest from regional and
international financial institutions and was several times
In line with QNB Group’s strategy for international expansion, the Bank
has increased its stake in Mansour Bank in Iraq to 51%. As a result, QNB
Group will effectively manage Mansour Bank and provide support to
enhance its ability to offer a comprehensive range of products and
services. Also, the Bank’s stake in the UAE based Commercial Bank
International was raised to 40% and the Bank has acquired a 49% stake in
Commerce and Development Bank in Libya, one of the leading private
sector banks in the country.
QNB Group which operates in 24 countries around the world through its
network, subsidiaries and associate companies employs more than 8,500
staff operating from 383 branches and offices that are supported by an
ATM network that exceeds 780 machines.
Based on the Group’s continuous strong performance and the expanding
international presence, the bank is currently ranked as the most
valuable brand in the MENA region, with a world ranking of 114 from 189
The press release can be viewed online: http://www.me-newswire.net/news/6181/en
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Maha Mubarak Ali
Officer Publications, +974-4497-5704