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(The Group’s Comments) QNB Net Profit for Q1
2019 Increased by 4% to QR 3.6 Billion
April 09, 2019
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Net
profit: Qatar National Bank reported a profit growth of about
4.0% in the first quarter of this year, an increase of QR 137
million compared to the same period of 2018, recording a profit
of QR 3,568 million. However, the bank’s earnings per share
stood at QR 3.60, the same EPS for the corresponding period of
2018, when profits amounted to QR 3,431 million. The quarterly
statements of the bank did not include any clarifications
thereon, but it should be noted that part of the profits go as
interest on additional capital instruments.
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The
Bank's operating income increased by 2.50% to reach QR 6,108
million. This improvement was due to the increase in the
interest income by QR 153.5 million, an increase of 3.30%, and
the climb in the foreign exchange profits by about QR 60
million.
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Loans
and customer deposits grew by 4.5% and 5.0% respectively, while
the loans to deposits ratio stood at 98.3% during the first
quarter. However, losses of loans and advances increased by QR
701 million, compared to QR 599 million recorded in the same
period of 2018. Also, the balance of debt securities increased
by QR 3.7 billion to QR 31.2 billion during the period.
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In
respect of the comprehensive statement of income, it included an
impairment loss of QR551 million compared to an impairment loss
of QR 1,470 million for the same period in 2018.
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