Qatar National Bank (QNB), the
country’s largest lender, has posted a 35.8% increase in full year
net profits.
Net income for the 12 months to 31
December rose to QAR5.7bn, beating analyst forecasts, following
rising loans and deposits.
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Total loans rose by 21.1% from a year ago
to QAR131.7 bn while deposits increased by 31.5% to QAR165.5
bn.
QNB ended fiscal 2010 with a
loans-to-deposit ratio of 80% compared to 86% a year
ago.
QNB’s ratio of non-performing loans to total
loans – 0.9% – was up 20 basis points from a year
ago.
Total assets of QAR223.4 bn were up 24.6%
from the year ago period.
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By GlobalDataQNB began 2011 with a distribution network
of 43 conventional branches
and offices with an additional 16 branches for Islamic subsidiary
QNB Al Islami, plus 170 ATMs.
