QNB Group 9-month net profit surges 4% to QR13.3bn

QNB Group announced a robust nine-month net profit of QR13.3 billion, marking a 4% increase compared to the previous year. The financial results, although slightly impacted by Turkey's ongoing hyperinflation, showcase the group's stability. Prior to accounting for hyperinflation, the net profit soared to QR6.4 billion, growing by 8% from the same period last year.

Earnings per share rose by 5% year-on-year to reach QR1.37. Total equity expanded by 10% year-on-year to reach QR134 billion. The company repurchased shares worth QR2.5 billion since initiating its share repurchase program. Operating income climbed by 8% to QR36 billion, while the cost-to-income ratio of the group stands at 24.3%, reflecting commendable efficiency among large financial institutions in the Middle East and Africa region.

The total assets of QNB Group surged to QR1.46 trillion, a 5% increase year-on-year, primarily driven by a 6% growth in loans and advances, now standing at QR1.06 trillion. Customer deposits saw a modest 2% increase to QR979 billion from September 30, 2025, attributed to the successful diversification of deposit sources. The ratio of loans to deposits reached 98.9%, while the ratio of non-performing loans to gross loans stood at a prudent 2.7% as of September 30, 2026.

The group's loan loss coverage ratio was notably high at 97%, demonstrating a prudent approach towards non-performing loans. QNB Group's Capital Adequacy Ratio (CAR) and Liquidity Coverage Ratio (LCR) were 19.7% and 145% respectively, both surpassing the regulatory minimum requirements set by the Qatar Central Bank and Basel III reforms.

QNB Group CEO Abdulla Mubarak al-Khalifa praised the group's performance, attributing it to the strength of their franchise and deep customer relationships, positioning them to support businesses in their investment and growth journeys. Looking ahead, QNB Group aims to continue growth while delivering sustainable returns for shareholders, with a focus on building customer relationships and investing in services and capabilities that strengthen their competitiveness.