Business Wire

QNB Group: Financial Results for the Nine Months Ended 30 September 2015

Del

QNB Group, one of the World’s Strongest Banks and the leading bank in the Middle East and North Africa, announced its results for the nine months ended 30 September 2015.

This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20151007005965/en/

QNB Head office (Photo: Business Wire)

QNB Head office (Photo: Business Wire)

For the nine months of 2015, Net Profit was QAR8.7 billion (USD2.4 billion), up by 9.0% compared to last year.

The Group’s prudent cost control policy and strong revenue generating capability allowed it to maintain an efficiency ratio (cost to income ratio) of 21.1%, which is considered one of the best ratios among financial institutions in the region.

Total assets increased by 9.6% from September 2014 to reach QAR521 billion (USD143.1 billion), the highest ever achieved by the Group. This was the result of a strong growth rate of 11.5% in loans and advances to reach QAR367 billion (USD100.7 billion).

The Group was able to maintain the ratio of non-performing loans to gross loans at 1.5%, a level considered one of the lowest amongst banks in the Middle East and Africa, reflecting the high quality of the Group’s loan book and the effective management of credit risk. The Group’s conservative policy in regard to provisioning continued with the coverage ratio reaching 127% in September 2015.

At the same time QNB Group increased customer funding by 8.9% to QAR381 billion (USD104.7 billion). This led to the Group’s loan to deposit ratio reaching 96%.

Total Equity increased by 6.8% from September 2014 to reach QAR60 billion (USD16.5 billion) as at 30 September 2015. Earnings per Share reached QAR12.5 (USD3.4), compared to QAR11.4 in September 2014.

Capital Adequacy Ratio (CAR) calculated as per the QCB and Basel III requirements stood at 14.0% as at 30 September 2015, higher than the regulatory minimum requirements of the Qatar Central Bank and Basel Committee. The Group is keen to maintain a strong capitalisation in order to support future strategic plans.

During March 2015, Fitch Ratings agency upgraded QNB Group to AA-/F1+ on the back of the strength of State of Qatar’s sovereign rating. QNB Group has maintained its credit rating from all other rating agencies and is considered one of the highest in the region. This is a result of QNB Group’s strong financial position, high quality of its assets and leading position in the financial sector.

As a result of the Group’s high credit ratings and outstanding asset quality, it was selected as one of the world’s 50 safest financial institutions by Global Finance.

Based on the Group’s continuous strong performance and its expanding international presence, QNB improved its ranking within the Brand Finance Global Top 500 Banking Survey 2015 and is now the biggest bank brand by value in The Middle East and Africa. The QNB Ranking moved significantly from 101st (Brand Value: USD1.8 billion in 2014) to 79th (Brand Value: USD2.6 billion in 2015) further recognising QNB’s improved standing and strong brand recognition.

QNB Group is present, through its subsidiaries and associate companies, in more than 27 countries and 3 continents providing a comprehensive range of products and services. The total number of staff is more than 15,000 operating from over 635 locations and with an ATM network of more than 1,350 machines.

*Source: ME NewsWire

Contact information

QNB Group
Maha Mubarak Ali, +974-449-75704
PR@qnb.com.qa

Om Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Følg saker fra Business Wire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Business Wire

Westinghouse Electric Company Signs Cooperation Agreement for Lead-Cooled Fast Reactor Development22.2.2018 13:00Pressemelding

Westinghouse Electric Company has signed a Cooperation Agreement for lead-cooled fast reactor (LFR) technology development with the Italian National Agency for New Technologies, Energy and Sustainable Economic Development (ENEA) and Ansaldo Nucleare. The agreement demonstrates each party’s commitment to collaborating toward the development of a next-generation nuclear plant based on LFR technology, which is both “walk-away” safe and economically competitive across global energy markets. “This agreement is an exciting step towards the development of a lead-cooled fast reactor for the marketplace,” said Ken Canavan, Westinghouse chief technology officer and vice president, Global Technology Office. “The LFR is game-changing technology for clean energy industries, and Westinghouse is pleased to be working with such experienced partners to bring this innovative concept to fruition.” Beyond baseload electricity generation, the high-temperature operation of the LFR will allow for a broad ran

Mavenir Teams with Dell EMC to Deliver Expanded Cloud-Native NFV Solutions22.2.2018 13:00Pressemelding

Mavenir, a leader in mobile network transformation, today announced its collaboration with Dell EMC OEM Solutions to deliver a broad range of solutions for service providers and enterprises covering 5G Cloud RAN, Packet Core, IoT, VoLTE, VoWiFi and RCS on Mavenir’s cloud-native Open Stack NFV and container CloudRange™ platform. Communications service providers are under intense pressure to simultaneously drive new revenue streams and aggressively reduce costs as OTTs gain market share in voice and messaging services. This expanded collaboration directly addresses these challenges, bringing together Mavenir’s extensive software stack for mobile network providers and Dell EMC solutions for infrastructure, cloud and IOT to create new offerings and best practices that enable the cost effective and rapid evolution of service provider and enterprise networks. Mavenir and Dell EMC OEM will pursue advanced engineering engagements in Cloud RAN, IOT and Enterprise Private LTE Solutions, includin

Equifax Integrates Entersekt’s Digital Security System22.2.2018 12:35Pressemelding

Entersekt, a leader in push-based authentication and mobile app security, today announced a technology partnership with global information solutions company Equifax Inc. (NYSE:EFX). Equifax has licensed Entersekt’s product Transakt to serve as an additional layer of security protecting the Equifax online and mobile services. Transakt empowers consumers to play an active role in safeguarding their digital identities and accounts. Whenever access to a digital identity or account is required, an authentication request is pushed to their phone or tablet in real time. They approve or block access by simply tapping Accept or Reject. It’s a highly intuitive, one-touch user experience engineered for a mobile-first world. Transakt’s ease of use belies its advanced set of security features. Covered by 56 patents in the United States and elsewhere, the digital-certificate–based technology uniquely identifies each registered mobile device; ensures its continued integrity as a factor of authenticat

ImmerVision to Showcase AI-Ready Vision Technology at MWC 201822.2.2018 12:00Pressemelding

ImmerVision, a technology company enabling intelligent vision in all the world’s devices, announced today that it is uniquely prepared to provide AI-ready, data-rich image processing to today’s most incisive device makers and manufacturers. Indeed, ImmerVision is already providing such hyper-intelligent image capture capabilities to some of the world’s top brands. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180222005513/en/ ImmerVision Enables AI-ready intelligent devices include Acer Holo360, Quanta Pi SOLO, and Tamaggo 360LiveCam (Graphic: Business Wire) Based in Montreal, Canada, ImmerVision develops wide-angle panomorph lenses and data-augmented imaging algorithms, enabling creative manufacturers to see more and smarter while creating professional and consumer devices. “In our quest to enable intelligent vision in every device, ImmerVision has taken a great leap forward,” says Alessandro Gasparini, Executive Vice Presi

Kite, a Gilead Company, and Sangamo Therapeutics Announce Collaboration to Develop Next-Generation Engineered Cell Therapies for the Treatment of Cancer22.2.2018 12:00Pressemelding

Kite, a Gilead Company (Nasdaq:GILD) and Sangamo Therapeutics, Inc. (Nasdaq:SGMO) today announced the companies have entered into a worldwide collaboration using Sangamo’s zinc finger nuclease (ZFN) technology platform for the development of next-generation ex vivo cell therapies in oncology. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180222005488/en/ Kite will use Sangamo’s ZFN technology to modify genes to develop next-generation cell therapies for autologous and allogeneic use in treating different cancers. Allogeneic cell therapies from healthy donor cells or from renewable stem cells would provide a potential treatment option that can be accessed directly within the oncology infusion center, thus reducing the time to infusion for patients. Under the terms of the agreement, Sangamo will receive an upfront payment of $150 million and is eligible to receive up to $3.01 billion in potential payments, aggregated across 10

CorFlow Presents Fundamental New Insights into the Coronary Microcirculation at ACC22.2.2018 09:10Pressemelding

CorFlow Therapeutics AG (www.corflow-therapeutics.ch) today announced that the company will present fundamental new insights into the coronary microcirculation during the annual meeting of the American College of Cardiology (ACC) in Orlando, FL, March 10-12, 2018. CorFlow has since its foundation in June 2016 worked to document that the Controlled Flow Infusion (CoFITM) technology is able to measure the coronary microvascular status and provide therapy to the compromised coronary microcirculation at the same time. Microvascular obstruction (MVO) affects more than half of the acute heart attack patients and is an independent predictor for complications including heart failure which constitutes a high cost burden for the world-wide health care system. To address this large unmet medical need in interventional cardiology, CorFlow has developed an in-vivo model which reproducibly creates MVO in an occlusion-reperfusion model with very low complication rates. Using this in-vivo model, the C