3. Total Assets up by QR67.2 billion (25.5%) since June 2011 to
QR330.8 billion
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4. Total Loans and advances up by QR84.1 billion (55.9%) since June
2011 to QR234.7 billion
4
5. Total Customer Deposits up by QR49.6 billion (25.3%) since June
2011 to QR245.9 billion
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6. Earnings per share increased to QR5.9 compared to QR5.6 in June
2011
Total Equity up by QR5.1 billion (13.0%) since June 2011 to QR44.1
billion
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7. QNB Group, one of the largest and one of the most highly regarded financial institutions
in the Middle East and North Africa region, has announced its financial results for the six
months ended 30 June 2012. The group recorded a net profit of QR4.1 billion, up by
17.1% compared to the same period last year, demonstrating QNB Group’s success
across business activities and the ability to achieve strong growth in profitability for the
benefit of shareholders.
Key indicators of the six months ended 30 June 2012:
Robust growth and prudent management of assets and liabilities
Total assets increased by 25.5% since 30 June 2011 to reach QR330.8 billion, the
highest ever achieved by the Group. This was the result of a strong growth rate of 55.9%
in loans and advances to reach QR234.7 billion. Meanwhile, customer deposits recorded
solid growth of 25.3% to QR245.9 billion.
Outstanding assets quality
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 123%.
Increased revenues with improved efficiency
Total operating income increased to QR5.7 billion, up by 23.0% compared to the same
period last year, as QNB Group succeeded in achieving strong growth across the range
of revenue sources. Net interest income and income from Islamic financing activities
increased substantially, up by 29.7% to reach QR4.5 billion.
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8. QNB Group continued to diversify its income sources, with net fees and commissions
income increasing by 9.8% to QR659.9 million, while net gain from foreign exchange
increased by 55.8% to QR315.1 million.
The efficiency ratio (cost to income ratio) stood at 16.4%, compared to 15.8% in June
2011, one of the best ratios among financial institutions in the Middle East and North
Africa.
Robust Capitalisation
Total shareholders’ equity increased by 13.0% since 30 June 2011 to reach QR44.1
billion. 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 capitalisation in order to support future strategic plans.
High Credit Ratings
The Bank has a high rating assigned to it from a number of leading rating agencies. The
Bank’s ratings are considered amongst the highest amongst the leading financial
institutions in the region due to its strong financial position, high quality of its assets and
its leading position in the financial sector.
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.
Successful launch of the EMTN Program
QNB Group launched its debut bond issue under its Euro Medium Term Note Program in
the international capital markets which amounted to US$1.0 billion 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.
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9. Ambitious plans for the future with innovative banking services and
A new 5-year strategic plan was approved which aims to make QNB Group a Middle
East and Africa Icon. The new strategy aims to maintain the Group’s position as the
leading bank in the area by expanding and improving operations, diversifying income
sources, and achieving a high return to shareholders.
In line with QNB Group’s strategy for international expansion, the Bank has increased its
stake in Mansour Bank in Iraq to 51%. As a result, QNB Group will effectively manage
Mansour Bank and provide support to enhance its ability to offer a comprehensive range
of products and services.
In line with efforts to further improve customer service through the offering of unique and
advanced solutions, the Group launched a mobile near field communication payment
program. This service, which is first to be offered in Qatar, allows customers to process
payments through their mobile phones.
QNB Group which operates in 24 countries around the world through its network,
subsidiaries and associate companies employs about 7,600 staff operating from 345
branches and offices that are supported by an ATM network that exceeds 670 machines.
Based on the Group’s continuous strong performance and the expanding international
presence, the bank is currently ranked as the most valuable brand in the MENA region,
with a world ranking of 114 from 189 in 2011.
The Bank continues to place high emphasis on recruiting Qatari nationals and to provide
them with dedicated training programs to further enhance their capabilities through the
Bank’s Training Centre. This has allowed the Bank to achieve a Qatarisation ratio that
exceeds 50%, the highest among financial institutions in Qatar.
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