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QNB Group’s efficiency (cost to income) ratio has reached 21.7%, which is considered “one of the best ratios among large financial institutions” in the MEA region
Operating income increased by 11% to reach QR10.4bn, which reflects the Group’s ability to maintain growth across a range of revenue sources.
Total assets as of March 31 of this year reached QR1,237bn, representing an increase of 5% from March 31, 2023, mainly driven by good growth in loans and advances by 7% to reach QR867bn.
Diversified deposits generation helped to increase customer deposits by 6% to reach QR880bn from March 31, 2023. QNB’s loans to deposits ratio stood at 98.6% as at March 31 this year, the bank said on Monday.
QNB Group’s efficiency (cost to income) ratio reached 21.7%, which is considered “one of the best ratios among large financial institutions” in the MEA region.
The ratio of non-performing loans to gross loans stood at 2.9% as at March 31, one of the lowest amongst financial institutions in the MEA region, reflecting the high quality of the Group’s loan book and the effective management of credit risk.
Further, loan loss coverage ratio stood at 98%, which reflects the prudent approach adopted by the QNB Group towards non-performing loans.
Total equity increased to QR105bn, up 3% on March 2023. Earnings per share reached QR0.42.
QNB Group’s capital adequacy ratio (CAR) as at March 31 amounted to 19.1%.
Liquidity coverage ratio (LCR) and net stable funding ratio (NSFR) as at March 31 this year amounted to 162% and 104% respectively.
“These ratios are higher than the regulatory minimum requirements of the Qatar Central Bank and Basel Committee,” QNB noted.
QNB Group is supported by 30,000 staff, who operate from 900 locations with a network of over 5,000 ATMs.
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