(The Group
Comment): QNB 2019 Net Profits Rises by 4% to QAR 14.4
Billion
Net Profits: Net profits
for 2019, free of interest on tier 1 capital, amounted QAR
13.351 billion compared to QAR 13.255 billion for 2018, an
increase of 0.72%. Earnings per share for the year amounted
QAR 1.445 compared to QAR 1.435 of 2018.
Comprehensive Income: The
comprehensive income statements shows that the Bank has
recorded valuation losses of QAR 973.5 million versus
valuation losses of QAR 4.05 billion for 2018. This
valuation loss is mainly ascribed to the impairment of the
fair value of in cash hedging in addition to losses from
valuation of investments in associated companies, an amount
of QAR 420.58 million.
Operational
revenues: Bank’s
operational income increased by 4.9% (QAR1.17 billion) to
amount QAR 25.23 billion, an improvement attributed to the
increase in net fee income by 6.1% (QAR1.16 billion).
Operational
expenses: 2019
operational expenses has increased by 4.8% (QAR 462 million)
compared to 2018. This rise is resulted from an increased
expense of projected credit losses for loans and advances by
QAR 136 million, in addition to losses from decreased
financial instruments by QAR 140 million, knowing that the
bank has recorded profits of QAR 48 million from this item.
Loans and
deposits: loans
portfolio has grown by 10.0% over the year which is an
approach ratio of growth in customer deposits which has
increased by 10.3% causing loans to deposits ratio to settle
at 99.2%. Regarding the non-performing loans, it stood at
nearly 1.9% of total loans.
Distributions and market shares: The Board
of Directors recommended to the shareholders’ assembly
general meeting to distribute dividends at 60% of the share
nominal value in cash, a 42% of the year’s net profits. The
Bank’s share is traded at a multiple of nearly 14.53 times.
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