QNB’s total assets (as on September 30) reached QR1,279bn, which represents an increase of 8% from September 30, 2023, mainly driven by growth in loans and advances by 11% to reach QR905bn.
Operating income increased by 5% to reach QR30.5bn, which QNB noted “reflects the Group’s ability to maintain successful growth across a range of revenue sources.”
Total assets (as on September 30, 2024) reached QR1,279bn, which represents an increase of 8% from September 30, 2023, mainly driven by growth in loans and advances by 11% to reach QR905bn. Customer deposits increased by 11% to reach QR909bn from September 30, 2023, due to successful deposit mobilisation.
QNB’s loans to deposits ratio stood at 99.5% as on September 30, 2024. The efficiency (cost to income) ratio stood at 22.4%, which is considered one of the best among large financial institutions in the MEA region.
The ratio of non-performing loans to gross loans stood at 3% as on September 30, 2024, which is one of the lowest amongst financial institutions in the MEA, reflecting the high quality of the Group’s loan book and the effective management of credit risk.
In addition, loan loss coverage ratio stood at 100%, which reflects the prudent approach adopted by the Group towards non-performing loans.
QNB’s Capital Adequacy Ratio (CAR) as on September 30, 2024 amounted to 19.5%. Liquidity Coverage Ratio (LCR) and Net Stable Funding Ratio (NSFR) amounted to 154% and 104% respectively.
“These ratios are higher than the regulatory minimum requirements of the Qatar Central Bank and Basel III requirements,” QNB noted on Tuesday.
Total equity increased to QR113bn, up by 4% from September 2023. Earnings per share reached QR1.28.
QNB Group’s presence spans some 28 countries across three continents operating from approximately 900 locations, 5,000 ATMs supported by 31,000 staff.
