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.

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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QNB 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.