QNB posts QR12 bn net profit Jan 13, 2021 0 860 12345 Tribune News NetworkDohaQatar National Bank (QNB), the largest financial institution in the Middle East and Africa (MEA) region, registered annual net profit of QR12 billion ($3.3 billion) for 2020. However, the net profit decreased by 16 percent as compared to the previous year.The bank’s operating income increased by 1 percent compared to last year despite the impact of COVID-19 and the decline in oil prices.This reflects QNB Group’s success in maintaining growth across the range of revenue sources, the bank said in a statement.Considering the long-term financial impacts of COVID-19, QNB Group decided to set aside an additional QR5.8 billion in respect of loan loss provisions as a precautionary measure, which affected the net profit for the year.For the first time in the history of the region, QNB became the first banking institution to record total assets of QR1 trillion, representing an increase of 9 percent from last year. QNB’s disciplined approach towards the execution of its long-term strategy enabled the Group to achieve the QR1 trillion total asset milestone after 56 years of successful operation since its inception. RELATED ARTICLES MME signs contract to set up ‘Container City’ Jan 13, 2021 0 2198 QVC in Colombo to resume operations from January 20 Jan 13, 2021 0 1152 QM unearths new archaeological site in Asaila Jan 13, 2021 0 1005 MoTC collects data to develop Qatar Freight Master Plan The Ministry of Transport and Communications (MoTC) is currently considering the Qatar Freight Master Plan (QFMP), which is expected to be finalised by the end of 2022. MoTC is in the process of collecting data and .. QRCS provides aid to Myanmar refugees in Bangladesh The representation mission of Qatar Red Crescent Society (QRCS) in Bangladesh has carried out multiple activities for the Myanmar refugees and host communities, funded by the donations of charity payers in Qatar. In .. Greek PM greets Amir on Gulf reconciliation QNA Doha His Highness the Amir of State of Qatar Sheikh Tamim bin Hamad Al Thani on Tuesday received a telephone call from Prime Minister of the Hellenic Republic Kyriakos Mitsotakis on Tuesday. The Greek PM congratulated .. Qatar Airways earns Diamond Standard status In Global APEX health safety Qatar Airways (QA) has achieved Diamond Standard in the Airline Passenger Experience Association’s (APEX) Health Safety Powered by SimpliFlying audit. The ‘Diamond Standard’ status, which is the highest level .. Action against 92 for not wearing masks The designated authorities on Tuesday referred 92 people to the Public Prosecution for not wearing masks in places where they are mandatory. The measure is in line with the Cabinet decision, Decree Law No. 17 of 1990 on ..