Qatar National Bank (QNB), the Gulf
state’s largest bank, has reported a record full year annual net
profit of QAR7.5bn ($2.06bn), a 32% year-on-year
increase.

QNB’s
total loans soared by 47% for the 12 months to 31 December to
QAR194bn while deposits increased by 21% to QAR200bn; total assets
were up 35% at QAR302bn.

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QNB’s
cost-income ratio fell by 130 basis points from 17.0% to
15.7%.

QNB
has embarked upon a five year strategic plan, with the aim of
expanding its international operations, diversifying income
sources and achieving increased returns to shareholders.

QNB
currently operates a 334 branch network and employs around 7,000
staff.

QNB
continues to be linked with a possible acquisition of Dexia’s
Turkey-based subsidiary, Denizbank.

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Founded as
a government-owned lender in 1938 and privatised in 1997, Dexia
gained control of Denizbank in 2006.

As of the
end of September last year, Denizbank had total assets of TRY45.7bn
($24.6bn) and a branch network of 565 outlets.