QNB net profit up 4% to QR11.2 bn in 9 months Oct 10, 2019 0 270 12345 Tribune news networkdohaQatar National Bank (QNB) Group has reported a net profit of QR11.2 billion for the nine months ended September 30, 2019, an increase of 4 percent compared to the same period last year.Total assets reached QR912 billion, an increase of 7 percent compared to the same period in 2018, the highest ever achieved by the Group.Loans and advances grew by 8 percent to reach QR653 billion, which contributed to the growth in total assets. This was mainly funded by customer deposits which increased by 7 percent to reach QR663 billion from September 2018. QNB’s strong asset liability management capabilities helped the Group to improve its loans to deposits ratio to 98.6 percent as at September 30, 2019.Non-performing loans (NPL’s) accounted for 1.9 percent, a level considered one of the lowest amongst financial institutions in the Middle East and Africa (MEA) region, reflecting the high quality of the group’s loan book and the effective management of credit risk. The Group achieved a coverage ratio of 104 percent due to its conservative approach to loan loss provisioning.QNB Group Capital Adequacy Ratio (CAR) as at September 30, 2019, amounted to 18.2 percent, higher than the regulatory minimum requirements of the Qatar Central Bank and Basel Committee. During September 2019, QNB Group obtained the regulatory approvals from Hong Kong Monetary Authority (HKMA) to open a branch in Hong Kong, one of the world’s global financial hubs. The branch will provide a full range of banking products and services to individuals and corporate entities.QNB’s expansion in Hong Kong is another fundamental step in the Group’s international expansion plans to support its growth strategy and market leadership in MEASEA, as well as establish a foothold in highly competitive markets. Pages 12 POST A COMMENT RELATED ARTICLES QIIB chairman honoured ‘Islamic Finance Personality of the Year 2019’ by GIFA Oct 10, 2019 0 272 QP, partners mark 10th anniversary of South Hook LNG Terminal Oct 10, 2019 0 258 Qatar ranks 2nd in Arab region in global competitiveness index Oct 10, 2019 0 48 Qatar Stock Exchange drops 74.29 points QNA Doha Qatar Stock Exchange (QSE) index dropped 74.29 points (0.72 percent) when the bourse closed trading at 10,197.57 points on Wednesday. The volume of shares traded increased to 70.77 million from 53.42 million, ..