Sector: Finance
Country: Qatar
Qatar National Bank (QNB), established in 1964 and headquartered in Doha, stands among the largest financial institutions in the Middle East and Africa, with operations spanning 28 countries across three continents.
In 2024, QNB achieved a net profit of QAR16.7bn, an 8 per cent increase from the previous year. Operating income for the year reached QAR41.3bn, supported by steady growth across a range of revenue sources. The bank’s loans and advances grew by 7 per cent to QAR911bn, while customer deposits increased by 3 per cent to QAR887bn.
As of March 31 this year, QNB’s total assets reached QAR1.324tn ($364bn), marking a 7 per cent increase from the previous year. This growth was primarily driven by a 9 per cent rise in loans and advances, totaling QAR947bn, and a 6 per cent increase in customer deposits, which amounted to QAR930bn.
QNB also reported a net profit of QAR4.26bn, reflecting a 3 per cent increase compared to the same period in the previous year. The bank’s operating income for the quarter rose by 6 per cent to QAR11bn, demonstrating its ability to maintain growth across various revenue sources. QNB maintained a cost-to-income ratio of 22.7 per cent, one of the most efficient among large financial institutions in the region.
QNB’s capital adequacy ratio stood at 19.3 per cent, comfortably above regulatory requirements, reflecting the bank’s strong capital position. The ratio of non-performing loans to gross loans was 2.8 per cent, indicating effective credit risk management.
This year, QNB is set to enhance its global presence by relocating its headquarters to the Lusail Plaza Towers, a landmark development in Qatar. This move symbolises the bank’s commitment to innovation and its role in shaping the future of banking in the region.
