Qatar National Bank 30 per cent rise in profits

06 October 2011

Net profits rise in first nine months of 2011

Qatar National Bank has reported a profit of QR5.4bn ($1.48bn) for the nine months ending 30 September, an increase of 30 per cent since the same period last year.

The bank’s total assets grew by QR85.4bn to QR280.1bn. Loans and advances and financing activities grew by 35.5 per cent to QR168.1bn. Customer deposits and unrestricted investment accounts grew by 31.4 per cent to QR195.3bn.

QNB plans to develop a Euro Medium Term Note (EMTN) Programme with a total amount of $7.5bn of which the proceeds will be used for the bank’s normal operations.

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