This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Bond Market News
Qatar National Bank Reports Solid Results
October 11, 2022
Qatar National Bank (QNB) reported that its 9M net profits ending September after accounting for hyperinflation, stood at QAR 11bn ($3bn), up 7% YoY. Its Q3 net profit of QAR 4bn ($1.1bn) beat estimates of QAR 3.83bn ($1.05bn). The bank’s operating income rose 24% YoY to QAR 25.6bn ($7bn) reflecting the Group’s success in maintaining growth across revenue sources. The bank’s NPL ratio was stable at 2.4% as of end-September, which Zawya notes is one of the lowest amongst financial institutions in the MEA region. Total assets rose by 5% to QAR 1.14tn ($312bn) and it said that its liquidity position was also strong. As result of its strong liquidity position, the loans-to-deposits ratio reached 96.1%. QNB added that it kept QAR 6.2bn ($1.7bn) as a precaution for potential loan losses.
QNB’s dollar bonds were stable with its 6.875% 2024s at 99.9, yielding 6.93%.
Go back to Latest bond Market News
Related Posts:
Macquarie Posts Record H1 Profits
October 29, 2021
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.