The net profit of Qatar National Bank Group (a Qatari public shareholding company) increased by 8.3% in the first half of 2023, to reach 7.6 billion riyals, compared to 7.018 billion riyals in the same period last year.
A statement issued by the group today indicated an increase in operating income by 14% to 18.5 billion Qatari riyals, which reflects the group’s success in maintaining strong and sustainable growth in various sources of income.
The same source explained that the group continues to take several initiatives aimed at reducing expenses and finding sustainable sources to increase income.
The rate of non-performing loans as a percentage of the total loan portfolio reached 2.9% as of June 30, 2023, which reflects the high quality of the loan portfolio and the effectiveness of the credit risk management policy.
During the year, the Group made provisions for loan losses amounting to QR 4.7 billion as a precautionary measure to protect the Group from any potential loan losses. This contributed to the non-performing loan coverage ratio reaching 99%, which reflects the continued conservative approach adopted by the Group towards non-performing loans.
The group indicated an increase in total shareholders’ equity to reach 104 billion Qatari riyals, an increase of 1% over the period ending on June 30, 2022. Earnings per share amounted to 0.76 Qatari riyals.
