Qatar National Bank Q1 profit rises 7 percent

Middle East
10-04-2023 | 07:38
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Qatar National Bank Q1 profit rises 7 percent
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Qatar National Bank Q1 profit rises 7 percent

Qatar National Bank (QNB) (QNBK.QA), the Gulf's largest lender by assets, said on Monday that its first-quarter profit rose 7% as revenue from a range of sources increased despite turbulence in global markets.

Net profit for the three months ended March 31 rose to 3.9 billion riyals ($1.07 billion), up from 3.6 billion riyals in the first quarter of 2022 and beating a median analyst estimate of 3.77 billion riyals, Refinitiv data showed.

Total assets stood at 1.18 trillion riyals at the end of the quarter, up 6% from the same period last year, QNB said in a bourse filing.

Loans and advances grew 6% to 810 billion riyals, while QNB's loan to deposit ratio was 97.9% and its non-performing loans ratio was 2.9%, up from 2.3% a year before.

Reuters 
 

Qatari

Qatar

Bank

Profit

Increase

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