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Tribune News Network
Doha
Qatar National Bank has reported a net profit of QR13.8 billion ($3.8 billion) for the year ended December 31, 2018, up by 5 percent compared to same period last year, the bank announced on Tuesday.
Total assets increased by 6 percent from December 2017 to reach QR862 billion ($237 billion), the highest ever achieved by the group and one of the best set of results in QNB Group’s history, the bank said.
Earnings per share reached QR14.4 ($3.9), compared to QR13.7 ($3.8) in December 2017.
The board of directors have recommended to the general assembly to distribute a cash dividend of 60 percent of the nominal share value (QR6 per share).
The financial results for 2018 along with the profit distribution are subject to Qatar Central Bank (QCB) approval.
QNB said the key driver of total assets growth was from loans and advances which grew by 5 percent to reach QR613 billion ($168 billion). This was mainly funded by customer deposits which increased by 5 percent to reach QR617 billion ($169 billion) from December 2017.
QNB’s strong asset liability management capabilities helped the group to improve its loans to deposits ratio to 99.3 percent as at December 31, 2018.
The group’s drive for operational efficiency is yielding cost-savings in addition to sustainable revenue generating sources. This helped QNB to improve the efficiency ratio (cost to income ratio) to 25.8 percent, from 29.1 percent last year, which is considered one of the best ratios among large financial institutions in the
region.
The ratio of non-performing loans to gross loans amounted to 1.9 percent as at December 31, 2018, a level considered one of the lowest among financial institutions in the MEA region, reflecting the high quality of the group’s loan book and the effective management of credit risk.
The group’s conservative policy in regard to provisioning resulted in the coverage ratio at 104 percent as at December 31, 2018.
Total equity increased by 12 percent from December 2017 to reach QR88 billion ($24 billion) as at December 31, 2018.
Group capital adequacy ratio (CAR) as at December 31, 2018 amounted to 19 percent, higher than the regulatory minimum requirements of the Qatar Central Bank and Basel Committee.
QNB Group successfully raised another QR10 billion as additional tier 1 capital notes to support growth of the group’s activities and operations.
Doha
Qatar National Bank has reported a net profit of QR13.8 billion ($3.8 billion) for the year ended December 31, 2018, up by 5 percent compared to same period last year, the bank announced on Tuesday.
Total assets increased by 6 percent from December 2017 to reach QR862 billion ($237 billion), the highest ever achieved by the group and one of the best set of results in QNB Group’s history, the bank said.
Earnings per share reached QR14.4 ($3.9), compared to QR13.7 ($3.8) in December 2017.
The board of directors have recommended to the general assembly to distribute a cash dividend of 60 percent of the nominal share value (QR6 per share).
The financial results for 2018 along with the profit distribution are subject to Qatar Central Bank (QCB) approval.
QNB said the key driver of total assets growth was from loans and advances which grew by 5 percent to reach QR613 billion ($168 billion). This was mainly funded by customer deposits which increased by 5 percent to reach QR617 billion ($169 billion) from December 2017.
QNB’s strong asset liability management capabilities helped the group to improve its loans to deposits ratio to 99.3 percent as at December 31, 2018.
The group’s drive for operational efficiency is yielding cost-savings in addition to sustainable revenue generating sources. This helped QNB to improve the efficiency ratio (cost to income ratio) to 25.8 percent, from 29.1 percent last year, which is considered one of the best ratios among large financial institutions in the
region.
The ratio of non-performing loans to gross loans amounted to 1.9 percent as at December 31, 2018, a level considered one of the lowest among financial institutions in the MEA region, reflecting the high quality of the group’s loan book and the effective management of credit risk.
The group’s conservative policy in regard to provisioning resulted in the coverage ratio at 104 percent as at December 31, 2018.
Total equity increased by 12 percent from December 2017 to reach QR88 billion ($24 billion) as at December 31, 2018.
Group capital adequacy ratio (CAR) as at December 31, 2018 amounted to 19 percent, higher than the regulatory minimum requirements of the Qatar Central Bank and Basel Committee.
QNB Group successfully raised another QR10 billion as additional tier 1 capital notes to support growth of the group’s activities and operations.
