QNB, the largest financial institution in the Middle East and Africa (MEA) region, posted a net profit of QR13.2bn in 2021, up 10% on the previous year.
The bank’s operating income increased by 11% to QR28.3bn, driven by strong growth in top line performance. This reflects QNB Group’s success in maintaining sustainable and strong growth across a number of revenue segments.
QNB’s Board of Directors, during its meeting held Tuesday approved the bank’s results for the year that ended in December 2021.
The Board has recommended to the General Assembly the distribution of a cash dividend of 55% of the nominal share value (QR0.55 per share).
The financial results for 2021 along with the proposed profit distribution are subject to Qatar Central Bank (QCB) approval, QNB said Tuesday.
QNB’s total assets reached QR1,093bn, an increase of 7% from December 31, 2020, mainly driven by strong growth in loans and advances by 6% to reach QR764bn.
Robust customer deposits generation helped to increase customer deposits by 6% to reach QR786bn as at December 31, 2021.
QNB Group’s strong asset liability management capabilities enabled it to improve its loans to deposits ratio from 98% to 97.2% (as at December 31, 2021) reflecting the improvement in the Group’s overall liquidity.
The Group’s drive for operational efficiency continues to result in cost-savings and strong revenue sources that has helped QNB Group to improve efficiency (cost to income) ratio from 24.3% to 22.2%, which is considered as “one of the best ratios” among large financial institutions in the MEA region.
The ratio of non-performing loans to gross loans remained stable at 2.3% (as at December 31, 2021), one of the lowest amongst financial institutions in the MEA region, reflecting the high quality of the QNB Group’s loan book and the effective management of credit risk.
Also during the year, QNB Group increased its loan loss provision charge by QR7.1bn, as it remains cautious on the external environment with respect to potential risks that may arise from key markets where QNB Group operates.
This helped the QNB Group to increase its coverage ratio to 117%, which reflects the prudent approach adopted by it towards non-performing loans.
Group capital adequacy ratio (CAR) as at December 31, 2021 amounted to 19.3% higher than the regulatory minimum requirements of the Qatar Central Bank and Basel Committee.
QNB Group is supported by 27,000 staff operating from approximately 1,000 locations and 4,500 ATMs.
The bank’s operating income increased by 11% to QR28.3bn, driven by strong growth in top line performance. This reflects QNB Group’s success in maintaining sustainable and strong growth across a number of revenue segments.
QNB’s Board of Directors, during its meeting held Tuesday approved the bank’s results for the year that ended in December 2021.
The Board has recommended to the General Assembly the distribution of a cash dividend of 55% of the nominal share value (QR0.55 per share).
The financial results for 2021 along with the proposed profit distribution are subject to Qatar Central Bank (QCB) approval, QNB said Tuesday.
QNB’s total assets reached QR1,093bn, an increase of 7% from December 31, 2020, mainly driven by strong growth in loans and advances by 6% to reach QR764bn.
Robust customer deposits generation helped to increase customer deposits by 6% to reach QR786bn as at December 31, 2021.
QNB Group’s strong asset liability management capabilities enabled it to improve its loans to deposits ratio from 98% to 97.2% (as at December 31, 2021) reflecting the improvement in the Group’s overall liquidity.
The Group’s drive for operational efficiency continues to result in cost-savings and strong revenue sources that has helped QNB Group to improve efficiency (cost to income) ratio from 24.3% to 22.2%, which is considered as “one of the best ratios” among large financial institutions in the MEA region.
The ratio of non-performing loans to gross loans remained stable at 2.3% (as at December 31, 2021), one of the lowest amongst financial institutions in the MEA region, reflecting the high quality of the QNB Group’s loan book and the effective management of credit risk.
Also during the year, QNB Group increased its loan loss provision charge by QR7.1bn, as it remains cautious on the external environment with respect to potential risks that may arise from key markets where QNB Group operates.
This helped the QNB Group to increase its coverage ratio to 117%, which reflects the prudent approach adopted by it towards non-performing loans.
Group capital adequacy ratio (CAR) as at December 31, 2021 amounted to 19.3% higher than the regulatory minimum requirements of the Qatar Central Bank and Basel Committee.
QNB Group is supported by 27,000 staff operating from approximately 1,000 locations and 4,500 ATMs.