QNB Group profit surges 6% to QR13.1bn in 2017

QNB Group profit surges 6% to QR13.1bn in 2017:

"QNB, the largest financial institution in the Middle East and Africa, has reported 6% year-on-year growth in net profit to QR13.1bn in 2017 and suggested 60% cash dividend.
The bank’s total assets expanded 13% to QR811bn, the highest ever achieved by the group. The key driver of asset growth was loans and advances, which grew 12% to QR584bn. Also, the QNB Group increased customer deposits by 16% to QR586bn from December 2016.
“This led to QNB Group’s loans-to-deposits ratio to decrease from 102.7% in December 2016 to 99.8% as on December 31, 2017,” a bank spokesman said."



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