QNB Group, the largest financial institution in the Middle East and Africa (MEA) region, announced its results for the year ended 31 December 2016.<\/p>\n\n\n\n
For the twelve months ended 31 December 2016, Net Profit reached QAR12.4 billion (USD 3.4 billion), up by 10% from last year. Total assets reached QAR720 billion (USD198 billion), up by 34% from December 2015, the best absolute results in QNB Group\u2019s history.<\/p>\n\n\n\n
The Board of Directors has recommended to the General Assembly the distribution of a cash dividend of 35% of the nominal share value (QAR 3.5 per share) and a bonus share of 10% of the share capital (1 share for every 10 shares). The financial results for 2016 and the profit distribution are subject to Qatar Central Bank (QCB) approval.<\/p>\n\n\n\n
The growth in assets was driven by loans and advances, which grew by 34% to reach QAR520 billion (USD143 billion). At the same time, QNB Group increased its customer funding by 28% to QAR507 billion (USD139 billion). This led to the Group\u2019s loans to deposit ratio reaching 103%.<\/p>\n\n\n\n
QNB Group\u2019s prudent cost control policy and strong revenue-generating capability allowed it to maintain an efficiency ratio (the cost to income ratio) of 30.4%, which is considered one of the best ratios among large financial institutions in the region.<\/p>\n\n\n\n
The Group maintained the ratio of non-performing loans to gross loans at 1.8%, a level considered one of the lowest amongst banks in the MEA region, reflecting the high quality of the Group\u2019s loan book and the effective management of credit risk. The Group\u2019s conservative policy regarding provisioning improved the coverage ratio to 114% as of 31 December 2016.<\/p>\n\n\n\n
Total Equity increased by 14% from December 2015 to reach QAR71 billion (USD19 billion) as of 31 December 2016. Earnings per Share reached QAR14.4 (USD4.0), compared to QAR13.4 (USD3.7) in December 2015.<\/p>\n\n\n\n
Capital Adequacy Ratio (CAR) calculated as per the QCB and Basel III requirements stood at 16.0% as of 31 December 2016, higher than Qatar Central Bank and the Basel Committee’s regulatory minimum requirements.<\/p>\n\n\n\n
During 2016, QNB acquired a 99.88% stake in Finansbank A.\u015e (now rebranded as QNB Finansbank), which enabled QNB to affirm its position as the largest financial institution MEA region.<\/p>\n\n\n\n
Based on the Group\u2019s continuous stellar performance and its diversified international presence, QNB maintained its position as the most valuable bank brand in the MEA region. This recognizes QNB\u2019s position as the largest financial institution across the MEA region and the value inherent in the QNB brand.<\/p>\n\n\n\n
2016 was another year of outstanding performance, the best absolute results in QNB Group\u2019s history. This strong growth has helped QNB realize its vision of the 2017 MEA Icon. Building on QNB\u2019s continued success, QNB Group has embarked on the aspiration of becoming \u201ca leading bank in the Middle East, Africa and Southeast Asia (MEASEA) by 2020\u201d.<\/p>\n\n\n\n
QNB Group is present, through its subsidiaries and associate companies, in more than 30 countries across three continents, providing a comprehensive range of products and services. QNB Group staff exceeds 28,000 serving more than 20 million customers through 1,200 locations and 4,300 ATMs.<\/p>\n","protected":false},"excerpt":{"rendered":"
QNB Group, the largest financial institution in the Middle East and Africa (MEA) region, announced its results for the year ended 31 December 2016. For the twelve months ended 31 December 2016, Net Profit reached QAR12.4 billion (USD 3.4 billion), up by 10% from last year. Total assets reached QAR720 billion (USD198 billion), up by […]<\/p>\n","protected":false},"author":2,"featured_media":4507,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_yoast_wpseo_meta-robots-noindex":"","_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_pr_autopilot_social_copy":"","_yoast_wpseo_opengraph_title":"","_yoast_wpseo_opengraph_description":"","_yoast_wpseo_opengraph_image":"","_yoast_wpseo_opengraph_image_id":0,"_yoast_wpseo_twitter_title":"","_yoast_wpseo_twitter_description":"","_yoast_wpseo_twitter_image":"","_yoast_wpseo_twitter_image_id":0,"_yoast_wpseo_primary_category":24,"_extra_hide_author_box":"1","_extra_featured_post":"","_partner_post_id":0,"footnotes":""},"categories":[24],"tags":[],"class_list":["post-4505","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","et-has-post-format-content","et_post_format-et-post-format-standard"],"yoast_head":"\n