{"id":33040,"date":"2025-01-13T12:28:00","date_gmt":"2025-01-13T12:28:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/4594658_AE94658_0"},"modified":"2025-01-13T12:28:00","modified_gmt":"2025-01-13T12:28:00","slug":"qnb-group-financial-results-for-the-year-ended-31-december-2024","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=33040","title":{"rendered":"QNB Group : Financial Results For The Year Ended 31 December 2024"},"content":{"rendered":"<table name=\"logo_release\" border=\"0\" cellspacing=\"10\" cellpadding=\"5\" align=\"right\">\n<tbody>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mma.prnasia.com\/media2\/1917328\/5112435\/QNB_Group_Logo.jpg?p=medium600\" border=\"0\" alt title=\"logo\" hspace=\"0\" vspace=\"0\" width=\"118\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span class=\"legendSpanClass\"><span class=\"xn-location\">DOHA, Qatar<\/span><\/span>, <span class=\"legendSpanClass\"><span class=\"xn-chron\">Jan. 13, 2025<\/span><\/span> \/PRNewswire\/ &#8212; QNB Group, one of the largest financial institution in the <span class=\"xn-location\">Middle East<\/span> and <span class=\"xn-location\">Africa<\/span> (MEA) region, announced that the Board of Directors, during its meeting held today has approved its results for the year ended <span class=\"xn-chron\">31 December 2024<\/span>.<\/p>\n<div id=\"prni_dvprnejpg49d1left\" dir=\"ltr\"> <a href=\"https:\/\/mma.prnasia.com\/media2\/2596536\/QNB_Head_Office.jpg?p=medium600\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" id=\"prnejpg49d1left\" title=\"QNB Head Office\" src=\"https:\/\/mma.prnasia.com\/media2\/2596536\/QNB_Head_Office.jpg?p=medium600\" alt=\"QNB Head Office\" align=\"middle\"><\/a> <br \/><span>QNB Head Office<\/span> <\/div>\n<p>The Board of Directors of&nbsp;QNB Group have recommended to the General Assembly the distribution of a cash dividend of 37% of the nominal share value (<span class=\"xn-money\">QAR0.37<\/span> per share) for the second half of the year ended <span class=\"xn-chron\">31 December 2024<\/span>, after taking into account the record net profit reported by QNB Group for the financial year 2024. The total dividend distribution for the year ended <span class=\"xn-chron\">31 December 2024<\/span> amounts to 70% of the nominal share value (<span class=\"xn-money\">QAR0.70<\/span> per share). The annual financial results for 2024 along with the proposed profit distribution are subject to Qatar Central Bank (QCB) approval and the General Assembly.<\/p>\n<p>Net Profit for the year ended 31 December&nbsp;2024 grew by 8% to reach <span class=\"xn-money\">QAR16.7 billion<\/span> (<span class=\"xn-money\">USD4.6 billion<\/span>), compared to previous year. Operating Income grew by 6% to reach&nbsp;QAR41.3 billion (<span class=\"xn-money\">USD11.4 billion<\/span>), reflecting a successful growth across a range of revenue sources.<\/p>\n<p>Total Assets as at <span class=\"xn-chron\">31 December 2024<\/span> reached <span class=\"xn-money\">QAR1,298 billion<\/span> (<span class=\"xn-money\">USD357 billion<\/span>), an increase of 5% from previous year, mainly driven by growth in loans and advances by 7% to reach <span class=\"xn-money\">QAR911 billion<\/span> (<span class=\"xn-money\">USD250 billion<\/span>). Customer deposits increased by 3% to reach <span class=\"xn-money\">QAR887 billion<\/span> (<span class=\"xn-money\">USD244 billion<\/span>) from previous year, due to successful diversification of deposit generation.<\/p>\n<p>QNB Group&#8217;s efficiency (cost to income) ratio stood at 22.3%, which is considered one of the best ratios among large financial institutions in the MEA region.<\/p>\n<p>As at <span class=\"xn-chron\">31 December 2024<\/span>, QNB Group had one of the lowest non-performing loans ratio of 2.8% with a loan loss coverage ratio of 100%, reflecting the high quality of the Group&#8217;s loan book and the effective management of credit risk. In addition, loan loss charge for the year ended <span class=\"xn-chron\">31 December 2024<\/span>, decreased to <span class=\"xn-money\">QAR8.1 billion<\/span> (<span class=\"xn-money\">USD2.2 billion<\/span>), representing a decrease of 6% compared to previous year.<\/p>\n<p>Total Equity increased to <span class=\"xn-money\">QAR114 billion<\/span> (<span class=\"xn-money\">USD31 billion<\/span>), up by 3% from previous year. Earnings per share reached <span class=\"xn-money\">QAR1.69<\/span> <span class=\"xn-money\">(USD0.46)<\/span>.<\/p>\n<p>QNB Group&#8217;s Capital Adequacy Ratio (CAR) as at <span class=\"xn-chron\">31 December 2024<\/span> amounted to 19.2%. Liquidity Coverage Ratio (LCR) and Net Stable Funding Ratio (NSFR) as at <span class=\"xn-chron\">31 December 2024<\/span> amounted to 179% and 101% respectively. These ratios are higher than the regulatory minimum requirements of the QCB and Basel III reforms requirements.<\/p>\n<p><b>Group statistics<\/b><\/p>\n<p>QNB Group&#8217;s presence spans 28 countries across three continents operating from approximately 900 locations, over 5,000 ATMs supported by more than 31,000 staff.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>DOHA, Qatar, Jan. 13, 2025 \/PRNewswire\/ &#8212; QNB Group, one of the largest financial institution in the Middle East and Africa (MEA) region, announced that the Board of Directors, during its meeting held today has approved its results for the year ended 31 December 2024. QNB Head Office The Board of Directors of&nbsp;QNB Group have [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":33041,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-33040","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>QNB Group : Financial Results For The Year Ended 31 December 2024 - My Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/transmediavictoria.net.au\/?p=33040\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"QNB Group : Financial Results For The Year Ended 31 December 2024 - My Blog\" \/>\n<meta property=\"og:description\" content=\"DOHA, Qatar, Jan. 13, 2025 \/PRNewswire\/ &#8212; QNB Group, one of the largest financial institution in the Middle East and Africa (MEA) region, announced that the Board of Directors, during its meeting held today has approved its results for the year ended 31 December 2024. QNB Head Office The Board of Directors of&nbsp;QNB Group have [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/transmediavictoria.net.au\/?p=33040\" \/>\n<meta property=\"og:site_name\" content=\"My Blog\" \/>\n<meta property=\"article:published_time\" content=\"2025-01-13T12:28:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnasia.com\/media2\/1917328\/5112435\/QNB_Group_Logo.jpg?p=medium600\" \/>\n<meta name=\"author\" content=\"admin_tony\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin_tony\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/?p=33040#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/?p=33040\"},\"author\":{\"name\":\"admin_tony\",\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/#\\\/schema\\\/person\\\/5b51d407d652c0aa802bea269ea5d7e7\"},\"headline\":\"QNB Group : Financial Results For The Year Ended 31 December 2024\",\"datePublished\":\"2025-01-13T12:28:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/?p=33040\"},\"wordCount\":412,\"image\":{\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/?p=33040#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/transmediavictoria.net.au\\\/wp-content\\\/uploads\\\/2025\\\/01\\\/qnb-group-financial-results-for-the-year-ended-31-december-2024.jpg\",\"articleSection\":[\"Business News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/?p=33040\",\"url\":\"https:\\\/\\\/transmediavictoria.net.au\\\/?p=33040\",\"name\":\"QNB Group : Financial Results For The Year Ended 31 December 2024 - 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