Qatar National Bank (QNB) (QNBK.QA), the Gulf’s largest lender by assets, reported on Monday that its first-quarter earnings jumped 7% as revenue from various sources improved despite global market volatility.
Refinitiv data indicated that net profit for the three months ended March 31 grew to 3.9 billion riyals ($1.07 billion) from 3.6 billion in the first quarter of 2022, exceeding the consensus analyst expectation of 3.77 billion.
QNB said in a market statement that total assets were 1.18 trillion riyals at the end of the quarter, up 6% from the previous year.
QNB’s loan-to-deposit ratio was 97.9%, while its non-performing loans ratio rose to 2.9% from 2.3%. Loans and advances rose 6% to 810 billion riyals.
