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FINANCIAL NEWS
Qatar’s QNB posts USD0.9bn net profit in Q1
12 Apr 2017
(MENAFN) QNB Group proclaimed its results for the first quarter of this year, recording revenue of USD0.9bn, up by 12 percent compared to the previous year.
Moreover, earnings per share reached QR3.5, compared to QR3.1 in March last year, while total equity grew by 17 percent from March 2016 to reach USD20bn this year.
Additionally, total assets grew by 35 percent from March 2016 to reach USD204bn, which was driven by a growth rate of 33 percent in loans and advances to reach USD147bn.
The group was successful in attracting new customer deposits to comply with the cap on loans to deposit ratio of 100 percent set by Qatar Central Bank.
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