Business Wire

QNB Group: The Financial Results for the Year Ended 31 December 2016

Del

QNB Group, the largest financial institution in the Middle East and Africa (MEA) region, announced its results for the year ended 31 December 2016.

This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170115005062/en/

QNB Head office (Photo: ME NewsWire)

QNB Head office (Photo: ME NewsWire)

For the twelve months ended 31 December 2016, Net Profit reached QAR12.4 billion (USD 3.4 billion), up by 10% from last year. Total assets reached QAR720 billion (USD198 billion), up by 34% from December 2015, the best absolute results in QNB Group’s history.

The Board of Directors have recommended to the General Assembly, the distribution of a cash dividend of 35% of the nominal share value (QAR 3.5 per share) and a bonus share of 10% of the share capital (1 share for every 10 shares). The financial results for 2016 along with the profit distribution are subject to Qatar Central Bank (QCB) approval.

The growth in assets was driven by loans and advances which grew by 34% to reach QAR520 billion (USD143 billion). At the same time QNB Group increased its customer funding by 28% to QAR507 billion (USD139 billion). This led to the Group’s loans to deposit ratio reaching 103%.

QNB Group’s prudent cost control policy and strong revenue generating capability allowed it to maintain an efficiency ratio (cost to income ratio) of 30.4%, which is considered one of the best ratios among large financial institutions in the region.

The Group was able to maintain the ratio of non-performing loans to gross loans at 1.8%, a level considered one of the lowest amongst banks in the MEA region, 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, improved the coverage ratio to reach 114% as of 31 December 2016.

Total Equity increased by 14% from December 2015 to reach QAR71 billion (USD19 billion) as at 31 December 2016. Earnings per Share reached QAR14.4 (USD4.0), compared to QAR13.4 (USD3.7) in December 2015.

Capital Adequacy Ratio (CAR) calculated as per the QCB and Basel III requirements stood at 16.0% as at 31 December 2016, higher than the regulatory minimum requirements of Qatar Central Bank and the Basel Committee.

During 2016, QNB acquired 99.88% stake in Finansbank A.Ş (now rebranded as QNB Finansbank), which enabled QNB affirm its position as the largest financial institution in MEA region.

Based on the Group’s continuous stellar performance and its diversified international presence, QNB maintained its position as the most valuable bank brand in the MEA region. This continues to recognise QNB’s position as the largest financial institution across the MEA region and the value inherent in the QNB brand.

2016 was another year of outstanding performance, the best absolute results in QNB Group’s history. This strong growth has helped QNB realise its vision of 2017 MEA Icon. Building on QNB’s continued success, QNB Group has embarked on the aspiration of becoming “a leading bank in the Middle East, Africa and Southeast Asia (MEASEA) by 2020”.

QNB Group is present, through its subsidiaries and associate companies, in more than 30 countries across three continents providing a comprehensive range of products and services. QNB Group staff exceeds 28,000 serving more than 20 million customers through 1,200 locations and 4,300 ATMs.

*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

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

Gilead Sciences Announces That John C. Martin, PhD Will Transition From Executive Chairman to Chairman of the Board of Directors14.12.2017 21:30Pressemelding

Gilead Sciences, Inc. (Nasdaq:GILD) today announced that Executive Chairman John Martin, PhD will transition from his current role of Executive Chairman to Chairman of the Board of Directors effective March 9, 2018. Dr. Martin was named Executive Chairman on March 10, 2016, when he was succeeded as CEO by John Milligan, PhD. Dr. Martin served as CEO of Gilead from 1996 to 2016, having joined the company in 1990 as the Vice President of Research and Development. During his time as CEO, he built the company’s portfolio to 24 marketed products with annual revenues of more than $32 billion. “John's scientific and business leadership has been notable for the development of Gilead’s portfolio of HIV and viral hepatitis medicines and commitment to worldwide access for patients. We are all grateful that he will continue to help guide the company as Chairman of the Board,” said Dr. Milligan, Pr

UniPrint Infinity Now Available in Epic App Orchard14.12.2017 19:07Pressemelding

UniPrint.net announced today that UniPrint Infinity software is now available in the Epic App Orchard Marketplace. Users can now take advantage of UniPrint Infinity’s secure release print suite which works with any printer, any device, and in any computing environment. UniPrint Infinity’s PDF-based Healthcare Printing Suite provides industry standard 256-bit data encryption and compression, high availability, archiving, and “follow-the-user” printing, resulting in increased security and compliance in addition to reduced print costs. Implementation of UniPrint Infinity is proven to reduce wait times and help desk calls. By improving workflows for doctors, nurses, and other healthcare providers, UniPrint Infinity allows healthcare staff to focus their attention on their most important task: providing better patient care. “Building upon our recent Imprivata SSO integrati

FINEOS Announces Three New Customers in the Cloud14.12.2017 15:57Pressemelding

FINEOS Corporation, the market leading provider of core systems for Life, Accident and Health (LA&H) insurance, today announced three new customers who have acquired FINEOS as a cloud service. The three new FINEOS customers, based in the US, Sweden and Canada respectively, have licenced FINEOS for their group insurance core processing needs. FINEOS is partnering with Amazon Web Services (AWS), the world’s largest IaaS cloud provider, to deliver the FINEOS Software as a Service (SaaS) offering. FINEOS Insurance Cloud is designed for the specific compliance and security needs of the LA&H industry. With simple subscription pricing, a FastTrack implementation approach, 24 x 7 support and continuous upgrades, the FINEOS Insurance Cloud is the way forward for LA&H insurance core systems. Speaking about the cloud, Gartner has said “By 2020, a Corporate ‘

UniPrint Infinity Now Available in Epic App Orchard14.12.2017 15:52Pressemelding

UniPrint.net announced today that UniPrint Infinity software is now available in the Epic App Orchard Marketplace. Users can now take advantage of UniPrint Infinity’s secure release print suite which works with any printer, any device, and in any computing environment. UniPrint Infinity’s PDF-based Healthcare Printing Suite provides industry standard 256-bit data encryption and compression, high availability, archiving, and “follow-the-user” printing, resulting in increased security and compliance in addition to reduced print costs. Implementation of UniPrint Infinity is proven to reduce wait times and help desk calls. By improving workflows for doctors, nurses, and other healthcare providers, UniPrint Infinity allows healthcare staff to focus their attention on their most important task: providing better patient care. “Building upon our recent Imprivata SSO integrati

Abdullah bin Zayed Honors Winners of the Al Hassan Bin Ali Award 2017 as Part of the Fourth Annual Forum for Promoting Peace in Muslim Societies14.12.2017 15:19Pressemelding

His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, hosted a ceremony to honor the ‘Egyptian Family House’, winner of the Imam Al Hassan bin Ali Award 2017, represented by Dr. Mahmoud Hamdi Zaqzouq, Secretary General, and His Eminence Anba Ermia, Assistant Secretary General. Also present were H.E Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and H.E Shaykh Abdallah Bin Bayyah, President of the Forum for Promoting Peace in Muslim Societies. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171214005883/en/ Left to right: H.E Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance, H.H Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, H.E Shaykh Abdallah Bin Bayyah, President of the Forum for Promoting Peace in Muslim

Kymeta Announces Commercial Availability of KĀLO™ Mobile Internet Access Services14.12.2017 15:00Pressemelding

Kymeta—the communications company making good on the promise of global, mobile connectivity—and Intelsat S.A. (NYSE:I)—operator of the world’s first globalized network—have announced that Kymeta KĀLO internet access is now available with broad initial geographic coverage. Kymeta is redefining how satellite services are purchased with KĀLO internet services, and making mobile communications as easy to buy as a mobile phone plan. KĀLO internet services, powered by the IntelsatOne® Flex network, deliver broad connectivity when paired with the world’s only commercially available flat panel, electronically-steered satellite terminals from Kymeta as well as other satellite terminal solutions. Kymeta™ KyWay™ terminals and mTennau7 antenna subsystem modules open new markets for the satellite industry and allow organizations that require high-bandwidth mobile internet access to do busine

I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.

Besøk vårt presserom