Doha, Qatar - Sunday, January 13th 2013 [ME NewsWire]
QNB
Group continued to record robust growth in profitability, with Net
Profit for 2012 exceeding QR8.3 billion, up by 11.1% compared to 2011.
These results, the highest ever achieved by the Group, demonstrated once
again its resilience and revenue-generating capacity, as well as
outstanding success in expanding the Group’s core business activities.
The
Board of Directors is recommending to the General Assembly the
distribution of a cash dividend of 60% of the nominal share value (QR6.0
per share). The financial results for 2012 along with the profit
distribution are subject to Qatar Central Bank (QCB) approval.
Total
assets increased by 21.5% to reach QR367 billion, the highest ever
achieved by the Bank. This was the result of a strong growth rate of
28.9% in loans and advances to reach QR250 billion. Meanwhile, customer
deposits recorded a solid growth of 34.9% to QR270 billion, resulting in
improved liquidity with the loans to deposits ratio reaching 92.6% at
year-end 2012.
The Bank was able to maintain the ratio of
non-performing loans to total loans at 1.3%, a level considered one of
the lowest amongst banks in the Middle East and Africa. The Group’s
conservative policy in regard to provisioning continued with the
coverage ratio reaching 115% in 2012.
Total operating income
including share of results of associates increased to QR11.5 billion, up
by 12.8% compared to 2011, as QNB Group succeeded in achieving strong
growth across the range of revenue sources.
The Group’s prudent
cost control policy and strong revenue generating capability allowed it
to maintain its efficiency ratio (cost to income ratio) at 16.8%, which
is considered one of the best ratios among financial institutions in the
region.
Total Equity increased by 12.6% to reach QR48.0 billion
as at 31 December 2012. The capital adequacy ratio reached 21.0% at
year-end 2012, far higher than the regulatory requirements of QCB and
the Basil Committee.
QNB Group was able to record a strong return
to shareholders, with the return on average shareholder’s equity
reaching 20.5% in 2012.
QNB Group's credit rating was affirmed
during 2012 by Capital Intelligence, Fitch, Moody’s and Standard &
Poor's. QNB Group maintains one of the highest ratings in the Middle
East and North Africa (MENA) Region. The Group’s ratings were affirmed
post the announcement to acquire National Société Générale Bank (NSGB), a
reflection of the confidence in its strategy and the management of its
expansion plans.
The Group’s high credit ratings and outstanding
asset quality allowed it to be recognized as one the world’s 50 safest
financial institutions by Global Finance.
During 2012, QNB Group
completed a number of transactions to further solidify its presence in
the MENA Region. The most significant transaction was the agreement with
Société Générale to acquire its full stake of 77.17% in NSGB, the
second largest private bank in Egypt.
The Bank has also concluded
the acquisition of a 49% stake in the Bank of Commerce and Development
in Libya, the country’s leading private sector bank. The Group’s stake
in a number of institutions was also increased. This included increasing
ownership in the UAE-based Commercial Bank International (CBI) from 24%
to 40% and the Iraq-based Mansour Bank from 23% to 51%.
With
operations in 24 countries across Asia, Europe and Africa, the Group is
in a strong position to reach its 2017 vision to become a Middle East
and Africa Icon.
During 2012, two issuances under the Bank’s Euro
Medium Term Note Programme (EMTN Programme) were successfully launched
each at US$1.0 billion, with very attractive rates. As part of ongoing
efforts to diversify the investor base, the London Certificates of
Deposit (CD) programme was effectively launched during the year. The
Bank has also successfully closed a US$1.8 billion three-year term loan
facility at competitive rates.
Currently, nearly 8,800 staff are
employed by QNB Group, its subsidiaries and associate companies having a
branch network comprising almost 400 branches and offices, with an ATM
network that exceeds 800 machines. Upon the completion of the regulatory
approvals to acquire NSGB, the number of staff will increase to almost
13,000 with the branch network at more than 560 supported by 1,150 ATM
machines.
To view the full report and tables please click here
Contacts
QNB
Maha Mubarak Ali
+974 -55879260
PR@qnb.com.qa
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