Reports
Middle East's QNB Logs Rise In Profits For H1, 2017
The Qatar-headquartered bank reported first-half figures for 2017.
Qatar
National Bank, the Middle East-based group, said it logged
net profit of QAR6.7 billion ($1.8 billion) in the first six
months of 2017, a 7 per cent gain.
The lender, which provides private banking among its services,
gave few details on this segment in its results press release
yesterday.
QNB said total assets reached QAR768 billion, up by 11 per cent
from June 2016, the highest ever achieved by the group, it said.
The growth was powered by a growth rate of 11 per cent in loans
and advances.
A rise in deposits led to a 15 per cent in customer funding reach
QAR562 billion.
The efficiency ratio (or cost to income ratio) stood at 29.3 per
cent as at 30 June 2017, narrowing 30.4 per cent.
