Qatar National Bank profits climbed significantly on the previous year, it says.
The Qatar lender said net profit before the impact of hyperinflation for 2022 reached QR16.1bn ($4.4bn), an increase of 22% compared to the same period last year.
QNB Group managed the negative impact arising from hyperinflation in Turkey, thereby net profit after the impact of hyperinflation reached QR14.3bn ($3.9 billion), an increase of 9% compared to same period last year.
Qatar National Bank profits
Operating income increased by 24% to reach QR35.1bn ($9.6bn) as QNB maintained growth across a range of revenue sources.
Qatar National Bank is the Gulf’s largest lender by sum of assets.
Total assets now stand at almost QR1.2tnbn ($327bn), an increase of 9% on the year before, mainly driven by growth in loans and advances by 6% to reach QR808bn ($222bn).
Strong customer deposits helped to increase the category by 7% to reach QR842bn ($231bn) from the year before. This helped to improve the loans to deposits ratio to 95.9%, reflecting the improvement in QNB Group’s liquidity.
Total equity increased to QR106bn ($29bn), up by 6% from December 2021.
Follow us on
