QNB posts half yearly net profit of QR7.4bn
July 10 2019 08:45 PM
QNB's total assets reached QR887bn, up 5% on June 30, the highest ever achieved by the group

*Total assets reached QR887bn, up 5% on June 30, the highest ever achieved by the QNB Group

QNB has posted a half yearly net profit of QR7.4bn, up 4% compared to H1, 2018.
Total assets reached QR887bn, up 5% on June 30, the highest ever achieved by the QNB Group, which is one of the leading banks in the Middle East, Africa and Southeast Asia (MEASEA) region.
Loans and advances grew by 5% to reach QR634bn, which contributed to the growth in total assets. 
The growth in the loan book was mainly funded by customer deposits, which also grew by 5% to reach QR646bn as on June 30.
Strong funding sources helped QNB Group to maintain the loans-to-deposits ratio at 98.3% as of June 30, well within the regulatory limit. 
The ratio of non-performing loans to gross loans amounted to 1.9% as of June 30, a level considered one of the lowest amongst financial institutions in the MEA region, reflecting the strong quality of the group’s loan book and effective management of credit risk. The group’s conservative policy with respect to provisioning resulted in the coverage ratio maintained at 106% as of June 30.
QNB Group's Capital Adequacy Ratio (CAR) as of June 30 amounted to 18.4%, higher than the regulatory minimum requirements of the Qatar Central Bank and the Basel Committee. 
During the first half of 2019, QNB successfully closed the syndication of its €2bn three-year senior unsecured term loan facility, successful completion of a $1bn bond issuance and a $850mn Formosa bond issuances under its Euro Medium Term Note (EMTN) Programme in the international capital markets. 
All of the above-mentioned deals attracted strong interest around the world from key global investors, reflecting investors’ confidence in QNB Group’s financial strength and its position as the largest financial institution in the Middle East and Africa region. 
It also reflects their trust and confidence in QNB Group’s strategy over the coming years.
QNB continued its outstanding achievements by topping the Middle East and Africa (MEA) region, on the 'Banker magazine’s 'Top 1000 World Banks' list.
QNB Group serves a customer base of 24mn supported by 30,000 staff resources operating from more than 1,100 locations and 4,400 ATMs.

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