Qatar National Bank (QNB) reported a first‑quarter net profit of QAR 4.33 billion ($1.19 billion), marking a 2% increase from the same period last year.

The result came in slightly above analysts’ mean estimate of QAR 4.05 billion, according to LSEG data.

QNB, the sixth‑largest bank in the Middle East and Africa according to S&P Global Market Intelligence, saw operating income rise 10% year on year to QAR 12.08 billion, driven by growth across multiple revenue streams.

Total assets increased 6% to QAR 1.41 trillion at the end of March, compared with a year earlier, largely due to an 8% rise in loans and advances to QAR 1.028 trillion.

Customer deposits grew 5% to QAR 974 billion, a bourse filing on Wednesday showed.

(Writing by Brinda Darasha; editing by Daniel Luiz)

brinda.darasha@lseg.com