US economy slows to 1.6% in Q1 of '24 – BEA    EMX appoints Al-Jarawi as deputy chairman    Mexico's inflation exceeds expectations in 1st half of April    GAFI empowers entrepreneurs, startups in collaboration with African Development Bank    Egyptian exporters advocate for two-year tax exemption    Egyptian Prime Minister follows up on efforts to increase strategic reserves of essential commodities    Italy hits Amazon with a €10m fine over anti-competitive practices    Environment Ministry, Haretna Foundation sign protocol for sustainable development    After 200 days of war, our resolve stands unyielding, akin to might of mountains: Abu Ubaida    World Bank pauses $150m funding for Tanzanian tourism project    China's '40 coal cutback falls short, threatens climate    Swiss freeze on Russian assets dwindles to $6.36b in '23    Amir Karara reflects on 'Beit Al-Rifai' success, aspires for future collaborations    Ministers of Health, Education launch 'Partnership for Healthy Cities' initiative in schools    Egyptian President and Spanish PM discuss Middle East tensions, bilateral relations in phone call    Amstone Egypt unveils groundbreaking "Hydra B5" Patrol Boat, bolstering domestic defence production    Climate change risks 70% of global workforce – ILO    Health Ministry, EADP establish cooperation protocol for African initiatives    Prime Minister Madbouly reviews cooperation with South Sudan    Ramses II statue head returns to Egypt after repatriation from Switzerland    Egypt retains top spot in CFA's MENA Research Challenge    Egyptian public, private sectors off on Apr 25 marking Sinai Liberation    EU pledges €3.5b for oceans, environment    Egypt forms supreme committee to revive historic Ahl Al-Bayt Trail    Debt swaps could unlock $100b for climate action    Acts of goodness: Transforming companies, people, communities    President Al-Sisi embarks on new term with pledge for prosperity, democratic evolution    Amal Al Ghad Magazine congratulates President Sisi on new office term    Egypt starts construction of groundwater drinking water stations in South Sudan    Egyptian, Japanese Judo communities celebrate new coach at Tokyo's Embassy in Cairo    Uppingham Cairo and Rafa Nadal Academy Unite to Elevate Sports Education in Egypt with the Introduction of the "Rafa Nadal Tennis Program"    Financial literacy becomes extremely important – EGX official    Euro area annual inflation up to 2.9% – Eurostat    BYD، Brazil's Sigma Lithium JV likely    UNESCO celebrates World Arabic Language Day    Motaz Azaiza mural in Manchester tribute to Palestinian journalists    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Qatar National Bank Records Net Profit of QR2.0Bn In Three Months
Amwal Al Ghad Published in Amwal Al Ghad on 05 - 04 - 2012

Qatar National Bank Group has announced its financial results for the three months ended 31 March 2012. The group recorded a net profit of QR2.0bn, up by 17.4% compared to the same period last year.
Total assets increased by28.2% since 31 March 2011 to reach QR311.1bn, the highest ever achieved by the Group. This was the result of a strong growth rate of 43.0% in loans and advances to reach QR201.2bn. Meanwhile, customer deposits recorded solid growth of 21.4% to QR218.4bn.
The Bank was able to maintain the ratio of non-performing loans to total loans at 1.1%, a level considered to be the lowest amongst banks in the Middle East and North Africa. Provisions were conservatively managed, as the coverage ratio reached 127%.
The efficiency ratio (cost to income ratio) improved to 16.0%, compared to 16.2% in March 2011, one of the best ratios among financial institutions in the Middle East and North Africa.
Total shareholders' equity increased by 71.3% since 31 March 2011 to reach QR42.0bn.
QNB Group maintains a strong capital adequacy ratio higher than the regulatory requirements of Qatar Central Bank and Basel Committee. The Group is keen to maintain a strong capitalization in order to support future strategic plans.
Based on the Group's strong capitalization and high credit ratings, QNB was named one of the World's 50 Safest Banks and one of the Safest Banks in the Middle East, according to the latest update published by Global Finance in April 2012.
QNB Group launched its debut bond issue under its Euro Medium Term Note Programme in the international capital markets which amounted to $1.0bn with a 5-year maturity at a coupon rate of 3.375%. This highly successful issue received an overwhelming interest from regional and international investors.
Based on the Group's continuous strong performance and the expanding international presence, the bank is currently ranked as the most valuable banking brand in the MENA region, with a world ranking of 114 from 189 in 2011.
QNB Group which operates in 24 countries around the world through its network, subsidiaries and associate companies employs about 7,000 staff operating from 335 branches and offices that are supported by an ATM network that exceeds 650 machines.
Press Release

Clic here to read the story from its source.