QNB Group’s net profit grows by 7% in H1, 2018 - The Peninsula Qatar

QNB Group’s net profit grows by 7% in H1, 2018 - The Peninsula Qatar:

QNB Group, the largest financial institution in the Middle East and Africa (MEA) region, recorded a net profit of QR7.1bn ($1.9bn) for the first half of 2018, reflecting a 7 percent growth compared to last year.

Driven by loans and advances, the QNB’s total assets increased by 10 percent from June 2017 to reach QR846bn ($232bn), the highest ever achieved by the Group.

The loans and advances grew by 9 percent to reach QR604bn ($166bn). This was mainly funded by customer deposits which increased by 9 percent to reach QR614bn ($169bn) from June 2017. This helped to maintain QNB Group’s loans to deposits ratio at 98.4 percent as at June 30, 2018.