Qatar National Bank 9-months to September net profit jumps 9 per cent

Wednesday, Oct 07, 2015Dubai:Qatar National Bank said its net profit for nine months to September rose more than 9 per cent even as the bank was able to maintain the ratio of non-performing loans.For the nine months of 2015, net profit was 8.7 billion Qatari Riyals (Dh8.78 billion), up by 9 per cent compared to last year driven by operating income, which increased to 12.4 billion riyals, up 5.9 pe

Gulf News

October 7, 2015

Wednesday, Oct 07, 2015

Dubai:

Qatar National Bank said its net profit for nine months to September rose more than 9 per cent even as the bank was able to maintain the ratio of non-performing loans.

For the nine months of 2015, net profit was 8.7 billion Qatari Riyals (Dh8.78 billion), up by 9 per cent compared to last year driven by operating income, which increased to 12.4 billion riyals, up 5.9 per cent compared to September 2014.

The Group was able to maintain the ratio of non-performing loans to gross loans at 1.5 per cent, a level considered one of the lowest among banks in the Middle East and Africa, reflecting the high quality of the Group’s loan book and the effective management of credit risk. The Group’s conservative policy in regard to provisioning continued with the coverage ratio reaching 127 per cent in September 2015.

Staff Report