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FinancialNews
11-10-18
Qatar National Bank hits USD3b in net profit
(MENAFN) Qatar National Bank (QNB) recorded a 6 percent rise in its net profit during the January-September period, reaching USD3 billion.
The Qatari bank registered an 8 percent boost in the total of its assets by September this year, standing at USD234 billion compared to the same period last year.
QNB's assets increase has been driven by a 4 percent surge in loans and advances which hit USD166 billion.
The devaluation in the Turkish lira was suggested to have held a fair impact in the bank's assets and liabilities increase.
However, the development in asset liability management abilities of QNB encouraged enhancement in its loans to deposits ratio to hit 98.3 percent last month.
MENAFN1110201800450000ID1097553985
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