QNB posts 13.7pc profit rise in Q1
Dubai, April 9, 2014
Qatar National Bank, the largest lender in the Gulf region, has said its first-quarter net profit rose 13.7 per cent.
The bank reported a net profit of QR2.4 billion ($659.1 million) for the first three months of 2014, a company statement said.
The financial results included that of QNB Al Ahli in Egypt, it said.
The bank’s total assets increased by 20.6 per cent from the same period last year to reach QR458 billion, which was a result of a 22.5 per cent growth in loans and advances which hit QR317 billion.
Its total equity reached QR51 billion, up 11.9 per cent from the first quarter of last year. The earnings per share hit QR3.5, compared to QR3.1 during the same period last year.
With the addition of QNB Al Ahli, the new subsidiary in India and the new office in China, QNB Group’s presence through its subsidiaries and associate companies increased to 26 countries providing a comprehensive range of products and services. - Reuters and TradeArabia News Service