QNB Group: Financial Results for the Nine Months Ended 30 September 2015
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)
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
Maha Mubarak Ali, +974-449-75704
Om Business Wire
(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
Emmaus Life Sciences Announces the New England Journal of Medicine has Published the Phase 3 Trial Results of Endari™ (L-Glutamine Oral Powder) in Sickle Cell Disease18.7.2018 21:45 | Pressemelding
VIEW E-MEDIA KIT – Emmaus Life Sciences, Inc. (Emmaus) announced today that the New England Journal of Medicine (NEJM) has published the results of its 48-week phase 3 clinical trial of Endari™ (L-glutamine oral powder) which supported the FDA approval in July 2017 to reduce the acute complications of sickle cell disease in adult and pediatric patients 5 years of age and older. The article reports results that showed significantly fewer sickle cell crises in those receiving Endari compared to placebo by 25 percent; p=0.005 (median 3 vs. median 4) and significantly fewer hospitalizations by 33 percent; p=0.005 (median 2 vs. median 3). Additional findings showed lower cumulative days in hospital of 41 percent; p=0.02 (median 6.5 days vs. median 11 days) and a lower incidence of acute chest syndrome (ACS) by more than 60 percent; p=0.003 (13 of 152 patients [8.6%] had at least 1 ACS compared with 18 of 78 in the placebo group [23.1%]). The most common adverse reactions, occurring in great
Tigo Releases State-of-the-art Wireless Technology – Mesh – as the New Solar Communication Architecture for the TS4 Platform18.7.2018 19:41 | Pressemelding
Tigo®, pioneer of the smart modular Flex MLPE platform, today announced the release of its new Mesh communication architecture. This state-of-the-art wireless technology directly translates to customer benefits – including simplifying the solar design process and accelerating the commissioning steps. The complete Tigo solution uses a simple yet powerful data collection technology that covers the widest ranges of residential & commercial installations at the lowest cost. With Mesh and the recently announced Tigo Access Point (TAP), customers eliminate the need to address any roof obstruction or orientation constraint. To learn more about Mesh and TAP, register for Tigo’s free, online webinar “The Future of Solar is Wireless” on Wednesday July 25th, 2018 at 10am PDT. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180718005827/en/ Mesh is Tigo's proprietary software that allows each TS4 unit to act as a repeater, extending the
ViiV Healthcare Shares Data from Landmark 2-Drug Regimen Trials At AIDS 201818.7.2018 17:21 | Pressemelding
ViiV Healthcare, the global specialist HIV company majority owned by GSK, with Pfizer Inc. and Shionogi Limited as shareholders, will be presenting over 20 abstracts, including data from the landmark GEMINI 1 & 2 clinical trials, at the 22nd International AIDS Conference (AIDS 2018), 23-27 July 2018, in Amsterdam, The Netherlands. The data being presented this year has a strong focus on novel exploratory therapeutic options and innovative treatment strategies, as well as improving awareness and understanding of key issues that continue to affect the HIV community. John C Pottage, Jr, MD, Chief Scientific and Medical Officer, ViiV Healthcare, commented, “As we see advancements in the treatment options available to people living with HIV, our research efforts over the past few years have been focused on moving beyond viral load and addressing some of the unresolved issues that people living with HIV face, such as the potential long-term risks and toxicities that can be associated with li
Xilam: H1 2018 Revenue: +50%18.7.2018 16:00 | Pressemelding
Regulatory News: The Xilam Group (Paris:XIL) posted consolidated H1 2018 revenue of EUR 13,866 thousand, an increase of 50%. This increase represents an excellent performance, as it follows on the heels of growth of 54% in H1 2017. Revenue for the first part of this financial year breaks down as follows. In thousands of euros 30.06.2018 (1) 30.06.2017 Change New productions 8,465 4,571 +85% Catalogue 5,385 4,652 +16% Other 16 16 +0% Revenue and subsidies 13,866 9,239 +50% (1) Unaudited data. Remarkable success for new releases +85% Excellent H1 growth was driven by the two main businesses, New Productions and Catalogue. In New Productions, H1 deliveries generated record revenue of EUR 8,465 thousand, an 85% increase compared with H1 2017, and confirmed Xilam’s position as a major European animation company. Catalogue revenue was up 16% compared with H1 2017, thanks again to traditional TV channels and digital platforms, in both France and abroad. A fast-paced delivery schedule Thanks t
Department for International Trade: Life Sciences at the Heart of UK Economy18.7.2018 12:38 | Pressemelding
The Government will today (Wednesday 18 July) host the second in a series of roundtables with stakeholders from key life science businesses, demonstrating the importance of the sector to the UK economy. The Chancellor, International Trade Secretary, Business Secretary and Health and Social Care Secretary will be amongst those that meet with senior representatives from leading UK and international life sciences companies as the UK positions itself as the global home of health innovation, welcoming overseas investment and seeking to boost exports in the process. Discussions at the roundtable will focus on how the future of the Life Sciences sector will be supported by the delivery of our modern Industrial Strategy, ensuring that the UK is ‘open for business’ with a positive business environment, our ambitions for a comprehensive agreement with the EU on our future relationship and the development and implementation of our independent trade policy. To date, the government has engaged sign
Universal Laser Systems Expands Its Materials Database with 3M, Victrex and Dexmet Materials18.7.2018 12:05 | Pressemelding
Universal Laser Systems (ULS) announces the addition of 3M™, Victrex® and Dexmet materials to its materials database, the most extensive repository of laser material processing parameters for materials in the range of 10 watts to 500 watts. The 3M, Victrex and Dexmet materials new to the ULS materials database were specifically added for laser processing with the ULTRA and XLS platforms, suited for high accuracy and precision laser cutting, laser ablation and laser surface modification. The materials include: 3M™ Extreme Sealing Tape 4412N 3M™ Thermally Conductive Silicone Interface Pad 5516 Victrex® APTIV® PEEK Film Dexmet PolyGrid® 8PTFE10-125ST Expanded PTFE Dexmet MicroGrid® AL 25 Expanded Aluminum Laser processing notes, describing the results of the laser-material interaction for these materials, are also available in the Materials Library on the ULS website to help potential customers explore the advantages of deploying laser technology within their manufacturing, research and d