Qatar National Bank (QNB) , the Gulf’s largest lender by property, mentioned on Monday that its first-quarter profit rose 7% as income from a spread of sources elevated regardless of turbulence in international markets.
Web profit for the three months ended March 31 rose to three.9 billion riyals ($1.07 billion), up from 3.6 billion riyals within the first quarter of 2022 and beating a median analyst estimate of three.77 billion riyals, Refinitiv information confirmed.
Whole property stood at 1.18 trillion riyals on the finish of the quarter, up 6% from the identical interval final yr, QNB mentioned in a bourse submitting.
Loans and advances grew 6% to 810 billion riyals, whereas QNB’s mortgage to deposit ratio was 97.9% and its non-performing loans ratio was 2.9%, up from 2.3% a yr earlier than. ($1 = 3.6400 Qatar riyals) (Reporting by Hadeel Al Sayegh; Enhancing by Kirsten Donovan)