FINANCIAL NEWS

QNB Group net income grow 7.7 percent to USD 3.1bn

14 Jan 2016

(MENAFN) QNB Group, the local’s hugest lender, claimed an increase by 7.7 percent in the net profit for last year compared to the previous year, which valued USD 3.1bn.

According to the strong financial results for 2015, QNB plan of exploiting returns to shareholders, while it’s recommending the delivery of a cash dividend of 35 percent.

The prudent cost control policy and strong income producing capacity made it to keep an efficiency ratio of 21.5 percent, which is one of the best ratios amid financial institutions.

QNB grew customer funding by 10.5 percent to USD 108.6bn, which reached to the Group’s loan to deposit ratio reaching 98 percent, and the whole equity grew by 7.1 percent to reach USD 17.0bn.

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