QNB Group Net Profit Rises by 6.7% to QR7.1 Billion in 1^st Half of 2018

July 12, 2018

QNB Group net profit in the first half of 2018 amounted to QR7.1 billion, compared to QR6.6 billion for the same period in 2017, while the group’s earnings per share amounted to QR7.4, compared to QR7 recorded in the same period of the previous year.

The Group’s Comments:

QNB Group’s operating income for the first half of 2018 increased by 7.1% to QR11.9 billion and all expenses increased by 12.8% to QR4.43 billion, resulting in a net profit attributable to shareholders increase of 6.7% to QR7.1 billion. On another hand, comprehensive income items including currency differences and hedge reserves recorded a book loss of QR1.87 billion compared to QR512.7 million in the corresponding period of 2017. As a result, QNB's comprehensive income recorded QR5.28 billion in the first half of 2018, a drop of 12.5% ​​from QR6.03 billion made in the same period of the previous year.