QNB net profit rises 11% in 9M 2016

Qatar National Bank (QNB), the largest bank by assets in the Middle East, reported a net profit of QAR 9.7 billion for the first nine months, an 11 percent increase year-on-year (YoY) driven by an increase in operating income.

Total assets reached QAR 713 billion, up by 37 percent from September 2015. Net loans and advances grew to QAR 507 billion, up by 38 percent YoY. The group maintained the ratio of non-performing loans to gross loans at 1.8 percent, it added in a statement.

The bank’s Q3 net profit of QAR 3.13 billion was 10.2 percent higher YoY, Reuters reported, based on its calculations.