- Robust balance sheet growth
Total assets increased by 22.2% from March 2012 to reach QR380bn, the highest ever achieved by the Bank. This was the result of a strong growth rate of 28.7% in loans and advances to reach QR259bn, while customer deposits increased by 28.2% to QR280bn.
- Maintenance of an outstanding assets quality
The Bank was able to maintain the ratio of non-performing loans to gross loans at 1.4%, a level considered one of the lowest amongst banks in the Middle East and Africa, reflecting the high quality of the Group's loan book and the effective management of credit risk. The Group's conservative policy in regard to provisioning continued with the coverage ratio reaching 119% in March 2013.
- Increased revenues with improved efficiency
Total operating income, including the share of results of associates, increased to QR3.0bn, up by 5.5% compared to March 2012, demonstrating QNB Group's success in achieving strong growth across the range of revenue sources. Net interest income increased by 4.7% to reach QR2.4bn, with net fees and commissions and net gain from foreign exchange reaching QR350m and QR172m, respectively, reflecting success in diversifying sources of income.
The Group's prudent cost control policy and strong revenue generating capability allowed it to maintain efficiency ratio (cost to income ratio) of 17.7%, which is considered one of the best ratios among financial institutions in the region.
- Robust capitalisation
Total Equity increased by 9.3% from March 2012 to reach QR46bn as at 31 March 2013. The capital adequacy ratio stood at 20.5% as at 31 March 2013, far higher than the regulatory requirements of QCB and the Basel Committee. The Group is keen to maintain a strong capitalisation in order to support future strategic plans.
- Significant expansion of international presence
During the first quarter of 2013, QNB Group has successfully completed the acquisition of a controlling stake in NSGB amounting to 97.12%, which included the full stake of Soci?t? G?n?rale - France amounting to 77.17% along with 19.95% acquired from other shareholders.
This acquisition is considered one of the largest in the Middle East and is in line with QNB Group's strategy to expand its presence in selected markets in the region that have a strong growth potential. This acquisition is an important step for QNB Group to realise its vision of being a Middle East and Africa Icon by 2017.
NSGB has a solid financial position and a strong standing in Egypt's banking sector, with operations throughout the country.
The announced results of QNB Group do not include financial results of NSGB, which are anticipated to be incorporated during the second quarter of 2013.
- High credit ratings
QNB Group has maintained its credit rating, which is considered as being one of the highest in the region, with various rating agencies affirming the Bank's rating during the first quarter of 2013. This is as a result of QNB Group's strong financial position, high quality of its assets and leading position in the financial sector.
As a result of the Bank's high credit ratings and outstanding asset quality, it was selected as one the world's 50 safest financial institutions by Global Finance.
Based on the Group's continuous strong performance and the expanding international presence, the bank is currently ranked as the most valuable brand in the MENA region, with a world ranking of 120.
- Innovative products and services
In line with ongoing efforts to expand the range of products and services, QNB First was launched across all five branches in Oman. The introduction of this elite and exclusive service for affluent customers is designed to meet their high expectation, which is provided by a dedicated and highly experienced team. The Group aims to roll out this service during this year to a number of countries in the region where it operates.
- Staff development remains a key priority
With the addition of NSGB, QNB Group's presence through its subsidiaries and associate companies increased to 25 countries providing a comprehensive range of advanced products and services. The total number of staff exceeded 13,000 operating from over 560 locations, with an ATM network exceeding 1,150 machines.
The Bank continues to place high emphasis on recruiting Qatari nationals and provide them with dedicated training programs to further enhance their capabilities. This has resulted in the Bank having a Qatarisation ratio that exceeds 50%, the highest among financial institutions in Qatar.
Source: http://www.ameinfo.com/qnb-announces-financial-results-months-31-336623
marquette university Chris Porco march madness cbs sports ncaa tournament kids choice awards ncaa
No comments:
Post a Comment