Mubasher: Qatar National Bank, listed on the Qatar Stock Exchange (QSE), recorded a 5.6% rise year-on-year in profits of the third quarter of 2017, supported by the growth in deposits, loans and facilities.
Profits reached QAR 3.6 billion ($1 billion) in Q3-17 as compared to QAR 3.4 billion ($946.76 million) in Q3-16.
As for the first nine months of 2017, profits reached QAR 10.25 billion, versus QAR 6.65 billion in the year-ago period, achieving a 6.20% YoY growth.
The bank’s assets increased 11% to QAR 792 billion during the first nine months of 2017, as compared to QAR 713 billion during the same period in 2016, while loans and facilities reached QAR 579 billion, growing 14% within the same period.
Deposits rose 2% YoY to QAR 77 billion from QAR 76%, despite the QAR 35.6 billion decline in foreign deposits in Qatari banks during the period from May to August.
QNB’s stock yields reached QAR 10.7 as compared to QAR 10.3 in the year-ago period.
The bank’s profits rose 6.4% to QAR 6.65 billion during H1-17, compared to QAR 6.25 billion in H1-16.
