Qatar National Bank's Profit Rises by 6.2% to QR 10.25 Billion

October 11, 2017

QNB Group disclosed its financial statements for the nine-month period ended 30.09.2017. The financial statements show that the net profit is QR10.25 Billion compared to net profit amounting to QR 9.65 Billion for the same period of the previous year

The Earnings per Share (EPS) amounted to QR 10.7 for the period ended September 30, 2017 compared to an EPS of QR 10.3 for the same period of the previous year.

The Group's Comment

Operational income dropped by 3% to QR 16.96 billion in nine months, including 13.22 billion as interests. Total cost decreased by 15.5% to QR 6.01 billion, including staff cost by 8.6% to QR 2.54 billion, loan loss by 38% to QR 959 million. As result, net profit attributable to shareholders increased by 6.2% to QR 10.25 billion. The comprehensive income losses – including loss as result of currency rate changes- dropped to QR 633 million compared to QR 3385 million in the same period last year. Hence, comprehensive income increased to QR 9503 million, compared to QR 6276 million in similar period.